Global exchange traded products enjoyed another solid month of asset-gathering activity in November, adding $28.2 billion in new assets led by $21.4 billion of inflows into U.S. equity ETFs, said BlackRock Inc. (NYSE: BLK) in its monthly “ETF Landscape” note out Thursday. BlackRock is the parent company of iShares, the world's largest ETF issuer.
Predictably, the Federal Reserve loomed large in the ETF decisions made by advisors and investors last month. With many market participants expecting that the U.S. central bank will, later this month, boost borrowing costs for the first time in nine years, U.S. stock ETFs received more cash on expectations the looming rate hike signals Fed confidence in the strength of the world's largest economy.
Conversely, investors yanked $4.5 billion from fixed income funds in November, according to BlackRock data. In November, five of the 10 worst ETFs in terms of lost assets were bond funds while just one fixed income fund ranked among the month's 10 best asset gatherers. No ETF lost more than the ...
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