During August, worldwide ETFs accumulated US$40 billion in net flows amid continued recovery of global stock markets. Equity ETFs led with US$25 billion in net new money, followed by bond and commodity (mostly gold ETFs) products garnering US$12 billion and US$3 billion, respectively. ETF assets shattered its previous record and stood at over US$3.3 trillion globally.
In the U.S., equity ETFs recorded $19 billion of net flows, while bond products gathered US$8 billion in net new cash. Equity US – Large Cap and Equity Emerging Markets attracted the most net subscriptions, totalling a combined US$15 billion for the month. ETFs in Europe and Asia also added approximately US$5 billion each in August.
Fortune SG Fund Management, the joint venture between China’s Baosteel Group and Societe Generale, launched two new ETFs in August, Fortune SG CSI ALL Share CSI Index ETF Fund and Fortune SG CSI National Defense ETF Fund, collecting US$96 million US$81 million in net new money, respectively in China.