The Asia Pacific (ex-Japan) ETF/ETP industry had 543 ETFs/ETPs, with 676 listings, from 97 providers listed on 15 exchanges, according to preliminary data from ETFGI’s end July 2014 Global ETF and ETP industry insights report.
The ETF/ETP industries in Europe, in Japan and globally have gathered record levels of YTD NNA at US$42.7 Bn, US$14.9 Bn and US$160.5 Bn, respectively.

New record highs in assets were reached at the end of July by ETF/ETP industries in Canada with US$66 Bn, Asia Pacific (ex-Japan) with US$103 Bn and Japan with US$91.5 Bn.

“In July investors invested the majority of new money into equity exposures as investor confidence was positive through most of month. The S&P 500 hit an all-time high during July but ended the month down 1% as market were rattled at the very end of the month by the situations in the Ukraine and Gaza and a poor start to the U.S. earnings season.

Developed markets outside the US ended the month down 2%, while emerging markets gained 2%, Asia was up 5% and frontier markets were up 4% in July.” according to Deborah Fuhr, Managing Partner at ETFGI.

In July 2014 in Asia Pacific (ex-Japan) ETFs/ETPs saw net inflows of US$1.21 Bn. Equity ETFs/ETPs gathered the largest net inflows with US$1.42 Bn, followed by commodity ETFs/ETPs with net inflows of US$3 Mn, while fixed income ETFs/ETPs saw net outflows of US$41 Mn.

CSOP/China Southern gathered the largest net ETF/ETP inflows in July with US$885 Mn, followed by Bosera AM with US$356 Mn and iShares with US$355 Mn net inflows.

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ETFs and ETPs reach a record high in April.

ETFs and ETPs listed globally gathered US$34.0 billion in net new assets in April which, when combined with a small positive market performance in the month, pushed assets in the global ETF/ETP industry to a new record high of US$2.49 trillion, according to preliminary data from ETFGI’s April 2014 Global ETF and ETP industry insights report.

At the end of April 2014 there were 5,241 ETFs/ETPs, with 10,238 listings, from 221 providers listed on 59 exchanges around the world.

The ETF/ETP industry in many countries and regions also hit record highs in assets at the end of April 2014 including: the United States at US$1.76 Trn, Europe at US$449.7 Bn, Japan at US$82.4 Bn, Canada at US$61.1 Bn, and the Middle East/Africa at US$41.4 Bn.

“In April, as was the case in March, investors continued to show a strong preference to equity allocations. Equity markets were again choppy in April – the S&P 500 closed at an all-time high on April 2nd but ended the month up less than 1%. The DJIA closed the month at an all-time high of 16,581. Outside the U.S., developed markets improved slightly, European equities continued to strengthen, while emerging markets remained flat for the month.” according to Deborah Fuhr, Managing Partner at ETFGI.

In April 2014, ETFs/ETPs globally gathered net inflows of US$34.0 Bn. Equity ETFs/ETPs gathered the largest net inflows with US$27.5 Bn, followed by fixed income ETFs/ETPs with US$6.3 Bn, while commodity ETFs/ETPs experienced net outflows of US$920 Mn.

YTD through end of April 2014, ETFs/ETPs have seen net inflows of US$68.9 Bn which is less than the US$83.1 Bn of net inflows gathered at this time last year. Equity ETFs/ETPs have gathered the largest net inflows YTD with US$37.4 Bn, followed by fixed income ETFs/ETPs with US$24.5 Bn, while commodity ETFs/ETPs have experienced net outflows of US$1.2 Bn YTD.

In April 2014, iShares gathered the largest net ETF/ETP inflows with US$10.7 Bn, followed by Vanguard with US$6.2 Bn in net inflows, and SPDR ETFs with US$4.6 Bn in net inflows.

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Flows into ETFs and ETPs listed globally rebounded in February gathering net inflows of US$29.0 billion which, when combined with the positive market performance in the month, pushed assets in the global ETF/ETP industry to a new record high of US$2.44 trillion, according to preliminary findings from ETFGI’s February Global ETF and ETP industry insights report.

The Global ETF/ETP industry has 5,183 ETFs/ETPs, with 10,210 listings, from 219 providers on 59 exchanges.

“Positive comments from the Fed indicating that the US economy continues to brighten, the S&P 500 ending February with a record close of 1859 and signs of a wider global recovery in equities seems to have caused investors to come out of their winter hibernation after the winter storms and put net inflows of US$29.0 billion into ETFs/ETPs in February.” according to Deborah Fuhr, Managing Partner at ETFGI.

Dissecting the overall net inflows we find that fixed income ETFs/ETPs gathered US$16.8 Bn – the largest net inflows – followed by equity ETFs/ETPs with US$10.2 Bn. Commodity ETFs/ETPs saw net inflows of US$870 Mn.

The competition to gather assets remains high. The top 100 ETFs/ETPs – less than 2% of the 5,183 ETFs/ETPs – account for more than half (57%) of global assets. Only 7% of ETFs/ETPs hold more than US$1 Bn in assets, while 69% have less than US$100 Mn in assets, 59% have less than US$50 Mn in assets and nearly a third of all products have less than US$10 Mn in assets.

In the first two months of 2014 Vanguard has gathered the largest net ETF/ETP inflows with US$9.4 Bn, followed by iShares with US$7.1 Bn, Nomura AM with US$4.2 Bn, First Trust with US$2.5 Bn and Guggenheim with US$2.0 Bn in net inflows.

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Global ETF and ETP assets reach new heights.

US$24.5 billion net inflows in December and positive market performance pushed assets in the global ETF/ETP industry to a new record high of US$2.4 trillion at year-end 2013, according to preliminary findings from ETFGI’s global ETF and ETP industry insights report.

The global ETF/ETP industry had 5,090 ETFs/ETPs, with 10,172 listings, from 218 providers on 60 exchanges at the end of 2013.

“After spending most of 2013 wondering when and how the Fed would taper its QE scheme, investors felt a degree of positive cheer and certainty after the Fed announced in December that the US economy was strong enough for it to begin to taper by US$10 billion in January 2014” according to Deborah Fuhr, Managing Partner at ETFGI.

In December 2013, ETFs/ETPs saw net inflows of US$24.5 Bn. Equity ETFs/ETPs gathered the largest net inflows with US$28.3 Bn, followed by fixed income ETFs/ETPs with US$403 Mn, while commodity ETFs/ETPs experienced net outflows of US$5.0 Bn.

In 2013, global ETF/ETP assets increased by 23% based on positive market performance and net inflows of US$242.8 Bn, but did not surpass the US$265.0 Bn in net inflows in 2012. Equity ETFs/ETPs gathered a record level of net inflows in 2013 with US$240.1 Bn, followed by fixed income ETFs/ETPs with US$22.3 Bn, while commodity ETFs/ETPs experienced a record level of US$39.7 Bn in net outflows in 2013.

iShares topped the rankings based on net inflows with US$61.0 Bn in 2013, narrowly beating Vanguard with US$60.2 Bn. SPDR finished 3rd with US$18.3 Bn, PowerShares took 4th place with US$15.4 billion and WisdomTree gathered the 5th largest net inflows with US$14.4 billion.

In 2013, 611 new ETFs/ETPs were launched by 102 providers which, is slightly higher than the 595 ETFs/ETPs launched in 2012 by 104 providers. The 245 ETF/ETP closures in 2013 are higher than the 206 ETFs/ETPs that closed in 2012, and more than three times the 72 that closed in 2011.

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ETFGI’s Institutional Users of ETFs and ETPs 2012 report* examines and profiles the number and types of ETFs and ETPs being used by institutional investors globally from 2005 through 2012.

“We have seen a significant increase in the use of ETFs/ETPs by institutional investors. From 2005 to 2012 there was a 92% increase in the number of institutions that reported using ETFs/ETPs, going from 1,752 institutions globally in 2005 to 3,367 in 2012” according to Deborah Fuhr, Managing Partner at ETFGI.

The reported use of ETFs and ETPs by institutional investors has grown at 6.9% CAGR over the past five years through 2012.

The objective of the analysis in this report is to deliver a worldwide and detailed report on the trends in ETF and ETP investors by location and firm type. The purpose of this report is to provide answers to the following strategic questions:

• Who are the investors?
• What type of firms use ETFs and/or ETPs?
• What size firms use ETFs and/or ETPs?
• Where are the firms located?
• What type of ETFs and/or ETPs do they use?
• How have the trends evolved from 2005 through 2012?

These findings and more are available in the “ETFGI Institutional Users of ETFs and ETPs 2012 report”. Contact deborah.fuhr@etfgi.com if you would like to discuss subscribing to this report.

———————-
*Data source is Thomson Reuters/Lipper share ownership database.

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There are now 4,827 ETFs and ETPs, with 9,897 listings, assets of $2.13 trillion, from 209 providers listed on 56 exchanges. ETF and ETP assets have increased by 9.1% from $1.95 trillion to $2.13 trillion.

ETFs and ETPs recorded $9.9 billion in net inflows in April 2013. Fixed income ETFs and ETPs gathered the largest net inflows with $8.0 billion, followed by equity ETFs and ETPs with $7.5 billion, and active ETFs and ETPs with $1.3 billion, while commodity ETFs and ETPs experienced net outflows with $9.4 billion.

Fixed income ETFs and ETPs net inflows of $8.0 billion in April were composed of $2.8 billion of net inflows in government bond, followed by high yield with $2.0 billion, and corporate bond with $980 million, while inflation ETFs/ETPs experienced the largest net outflows with $251 million.

Equity ETFs and ETPs saw net inflows of $7.5 billion with US/North American equity gathering $9.2 billion, the largest net inflows, followed by developed Asia Pacific equity with $4.5 billion, and global equity with $1.1 billion, while emerging market equity experienced the largest net outflows with $5.0 billion.

Commodity ETFs and ETPs saw net outflows of $9.4 billion with precious metals experiencing the largest net outflows of $9.0 billion, followed by agriculture with $335 million.

Year-to-date through the end of April 2013, ETFs and ETPs have seen net inflows of $83 billion, which is greater than the $67 billion in net flows at this time in 2012.

“April flows show investors are feeling more cautious as a result of political and economic events in Europe, the US and Asia” according to Deborah Fuhr, Managing Partner at ETFGI.

iShares is the largest ETF and ETP provider with assets of $826 billion, reflecting 38.9% market share; SPDRs is second with $360 billion and 16.9% market share, then Vanguard with $288 billion and 13.6% market share, followed by PowerShares with $72 billion and 3.4% market share. The top three ETF and ETP providers, out of 209, account for 69.4% of global ETF and ETP assets.

S&P Dow Jones has the largest amount of ETF and ETP assets tracking its benchmarks with $556 billion, reflecting 26.1% market share; MSCI is second with $368 billion and 17.3% market share, followed by Barclays with $194 billion and 9.1% market share.

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The awards, now in their 4th year, recognise excellence among managers and service providers of exchange-traded funds around the world. Winners are decided via a unique ‘peer review system’ whereby etfexpress’s readers, who include the full range of industry professionals, from investors, managers and fund administrators to custodians, advisers and distributors, are invited to elect a ‘best in class’ in a series of categories via an online survey.

This year’s awards attracted over 1,200 readers to vote for their favourite firms in 24 categories.

Deborah Fuhr, partner and co-founder of ETFGI, said “We feel honoured that so many market participants voted for ETFGI having just launched our new company, and our new research service and web tool.”

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ETF and ETP assets have increased by 27.6% from $1.53 trillion to $1.95 trillion during 2012, according to figures from ETFGI’s monthly Global ETF and ETP industry insights.

The 10 year compounded annual growth rate (CAGR) of global ETF and ETP assets at the end of 2012 was 29.6%. There are currently 4,731 ETFs and ETPs with 9,710 listings, assets of $1.95 trillion, from 208 providers on 56 exchanges.

iShares is the largest ETF/ETP provider in terms of assets with $760 billion, reflecting 39.0% market share; SPDR ETFs is second with $337 billion and 17.3% market share, followed by Vanguard with $246 billion and 12.6% market share. These top three ETF/ETP providers, out of 208, account for $1.34 billion or 68.9% of global ETF/ETP assets, while the remaining 205 providers each have less than 4% market share.

The top 3 providers of ETFs/ETPs accounted for $179.5 billion, or 67.6%, of all net new assets gathered in 2012. iShares gathered the largest net new ETF and ETP inflows in 2012 with $87 billion, followed by Vanguard with $54.2 billion and SPDR ETFs with $38.3 billion net inflows. All three gathered significantly more net new assets in 2012 than in 2011.

At $265.3 billion, 2012 net inflows into ETFs and ETPs listed globally represented an increase of 55.9% on the $170.1 billion net inflows gathered during 2011 but fell $7 billion short of breaking the record level of net new assets set in 2008.

Equity ETFs and ETPs gathered the largest net inflows, accounting for $167.3 billion, followed by fixed income ETFs and ETPs with $62.9 billion and commodity ETFs and ETPs capturing $23.1 billion. Overall, $37.8 billion of net new money went into ETFs and ETPs in the month of December.

“The uncertain and challenging market conditions investors have faced during 2012 and over the past few years, combined with the difficulty in finding active managers that consistently deliver alpha, have caused more institutional investors, financial advisors and retail investors to embrace the use of ETFs and ETPs for strategic and tactical asset allocations.

“ETFs provide greater transparency in relation to costs, portfolio holdings, price, liquidity, product structure, risk and return compared to many other investment products and mutual funds,” said Deborah Fuhr, Managing Partner at ETFGI.

Equity focused ETFs and ETPs have gathered $167.3 billion, an increase of 84.5%, or $76.6 billion, on 2011 net new assets. Products providing exposure to US/North American equities have been the most popular receiving $78.3 billion, followed by emerging market equities with $54.3 billion.

Fixed Income ETFs and ETPs have proven to be popular tools this year with $62.9 billion in net new assets, an increase of $17.5 billion, or 38.5%, on 2011 levels. Corporate bond products have gathered the largest net inflows with $24.7 billion, followed by high yield with $14.7 billion.

Commodity flows at $23.1 billion are 52.4% higher than 2011 net inflows of $15.1 billion. Precious metals have been the most popular gathering $20.3 billion, while agriculture experienced the largest net outflows with $1.5 billion.

Indices and their methodology are a key factor in selecting and using ETFs and ETPs and there are over 100 firms providing indices. The top 3 index providers account for 37.4% (1,770) of all products with assets of $1.1 trillion, or 54.8%, of all assets.

S&P Dow Jones is the leading index provider for ETFs and ETPs in terms of both number of products and the amount of assets tracking its benchmarks, with 1,103 products holding a combined total of $481.9 billion in assets and collectively capturing $59.9 billion, or 22.6%, of 2012 net new assets.

MSCI ranks second with 572 ETFs and ETPs tracking its indices, holding $405.4 billion in assets and gathering $56.9 billion of net new assets. Barclays Capital ranks third with $180.7 billion or 9.3% of the assets in 185 products, reflecting the growth in the use of ETFs and ETPs for fixed income exposure.

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Year to date through end of November 2012, ETF and ETP assets have increased by 23.8% from US$1.5 trillion to US$1.9 trillion.

Over the past 10 years the global compounded annual growth rate (CAGR) of these products has been 30.2%.  There are currently 4,726 ETFs and ETPs, with 9,719 listings, assets of US$1.9 trillion, from 208 providers on 56 exchanges.

With the outcomes of the US elections and super storm Sandy known, and a sense among investors that a solution to the looming fiscal cliff will be negotiated, US$9 billion was invested into ETFs and ETPs providing exposure to US equity indices, reversing nearly all of the outflows during October.

Overall, US$ 21.3 billion of net new money went into ETFs and ETPs in the month of November.  Looking year to date through end of November 2012, ETFs and ETPs saw net inflows of US$223 billion, US$69 billion above the level of net new assets at this time last year. Equity ETFs and ETPs have gathered the largest net inflows accounting for US$127 billion followed by fixed income ETFs and ETPs with US$61 billion and commodity ETFs and ETPs capturing US$22 billion.

“We are likely to end 2012 with a record level of assets in ETFs and ETPs and with a record level of net new assets invested into the products during the year” according to Deborah Fuhr, Managing Partner at ETFGI.

Equity focused ETFs and ETPs have gathered US$127 billion which is US$36 billion more than all of last year. Products providing exposure to North American equity indices have been the most popular receiving US$62 billion, followed by emerging market equity with US$38 billion and Asia Pacific equity with US$9.6 billion.

Fixed Income ETFs and ETPs have proven to be very popular tools this year with US$61 billion in net new assets, gathering US$16 billion more than all of last year. Corporate bond products have gathered the largest net inflows with US$24.5 billion, followed by high yield with US$14 billion.

Commodity flows at US$22.5 billion are US$5.5 billion above this time last year. Precious metals have gathered the largest net inflows with US$19.8 billion, while agriculture experienced the largest net outflows with US$1.4 billion.

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Assets in global ETFs and ETPs reached a new record high of US$1.86 trillion at the end of Q3, surpassing the prior record of US$1.76 trillion set at the end of August 2012. Year-to-date through end of Q3 assets have increased by 21.7% from US$1.53 trillion to US$1.86 trillion in the 4,690 ETFs and ETPs, with 9,626 listings, from 204 providers on 56 exchanges.

Although the global ETF and ETP market continues to grow on many measures it remains very competitive; the top three providers consistently capture over 60% of assets, net new assets and trading volumes.  Assets invested in ETFs and ETPs have grown at 26.5% CAGR over the past 10 years. The United States accounts for 70.1% of the US$1.86 trillion in global assets, Europe represents 18.8% and Asia Pacific (ex-Japan) 3.9%, leaving 7.2% for the rest of the world.

The top three providers collectively hold 68.7% of global assets. iShares ranks first with 38.3%, SPDR ETFs is second with 18.0% and Vanguard third with 12.4%. There is a 9.1% gap between third place and DB/x-trackers in fourth with 3.4% of global assets. The remaining 200 providers hold just slightly more than a quarter of global assets. The top 3 firms have held between 68-71% of global assets for many years.  It will be very difficult for a new entrant or an existing firm to grow organically into the top 3.

The top three firms based on assets are also winning the net new asset (NNA) race accounting for 65.0% of all of NNAs, with iShares accounting for 26.7%, Vanguard 22.8% and SPDR ETFs 15.5%. The top three providers also captured a high proportion of trading volume with 75.2% collectively of September’s average daily trading volume. SPDR ETFs has the largest share with 42.4%, iShares is second with 28.3%, followed by ProShares with 4.5%.

“ETF competition is about getting the product mix and the ETF Eco System right and not just low costs.  We will see some movement in the relative size of the industry heavyweights and while benchmark, performance, trading, liquidity and product structure will continue to be key considerations, costs as we see from the US will be an increasingly important component,” said Deborah Fuhr, Managing Partner at ETFGI.

Benchmarks are an important factor in the selection process when comparing ETFs and ETPs to implement exposure to a desired market segment or asset class. The top 3 index providers account for 54.5% of global assets. S&P Dow Jones has the largest number of ETFs/ETPs tracking their benchmarks with 1,028 products and 25.5% of assets, MSCI with 569 products and 19.7% of assets, followed by Barclays Capital with 178 products and 9.3% of assets. Over 100 other index providers split the remaining 45.5% of assets.

Year-to-date through Q3 2012 Equity ETFs and ETPs have gathered the largest net inflows accounting for US$111 billion, followed by fixed income ETFs and ETPs with US$50 billion and commodity ETFs and ETPs capturing US$17 billion.

Equity focused ETFs and ETPs have gathered US$111 billion YTD, which is US$20 billion more than the NNA flows they received in all of 2011. Products providing exposure to the United States/North American equities have gathered US$63 billion, followed by emerging market equity with US$28 billion and Asia Pacific equity with US$7 billion.

Fixed Income ETFs and ETPs have also proven to be very popular this year with US$50 billion in NNAs, which is US$4 billion more than the total new assets they received last year. Within the Fixed Income universe corporate bond products have gathered the largest net inflows with US$20 billion, followed by high yield products with US$14 billion. Emerging market and broad/aggregate bond exposures each captured just over US$5 billion.

Commodity flows at US$17 billion are nearly US$2 billion more than full year 2011 NNAs.  Precious metals have gathered the largest net inflows with US$15 billion, followed by broad commodity products with US$2 billion.

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