Global investors plough £97bn into funds as confidence rebounds
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Global investors ploughed $111.5bn (£96.58bn) into exchange traded products in October as conviction roared back in the strongest month of flows since March, new data has revealed.
Cash flowing into equity funds surged from just $31.6bn in September to $79bn in October, while funds holding bonds notched $34.2bn inflows, up from $13bn the previous month, according to data from the world’s biggest asset manager BlackRock.
Funds focusing on emerging market equities notched the strongest flows in the period with $7.3bn added in October, while investors allocated $1.8bn to EMEA- and US-listed ETPs.
Tech proved the biggest draw to investors in October, analysts at BlackRock said, as investors confidence rebounded after a weak month.
“After sector flows dropped off in September, October saw a significant pickup, in line with the broad rise in equity flows,” the analysts said.
“Tech ETP buying rebounded to the highest level since March ($6.1bn), while financials notched up a second inflow month in three, with $1.6bn added.”
Energy funds have had a “rollercoaster 2022”, they added, as inflows across January to April were followed by five months of outflows, which finally showed signs of reversing with $1.6bn added in October.
Net global flows into the sector have come in at $2.2bn, compared to $23.4bn across the whole of 2021.