Source announced today that the total turnover on its leading European Sector ETFs reached €5.9Bn in April according to Cascade (Clearstream’s German settlement system). This represented a staggering 75.8% of Cascade’s reported European sector activity, dwarfing the turnover on competing products. ..…
Source has dominated secondary trading volume in sectors for the last seven months.
Commenting on the newly published Cascade data, Michael John Lytle, Director of Marketing at Source said “The trend continues to show significant growth. Flows in sector ETFs now represent a meaningful slice of overall sector investing in Europe. The arrival of hedge funds as sector ETF investors brings a new dimension to the market.”
Flows in Source Optimised Supersector ETFs
Source’s dominant share of turnover coupled with its broadening investor base make flows in Source European sector products a good representation of market sector views.
The Source Banks ETF recorded the highest net inflows during the month of April, with a net inflow of €34 MM followed by Autos with €20 MM. In fact Banks saw 45% of gross flows and Basic Resources 22% indicating significant two way trading. However, many sectors saw net outflows during April. The Industrials, Utilities and Insurance Source sectors accounted for more than 70% of net outflows with €34MM, €19MM and €17MM respectively.
Period: 1-30 April 2010
1 Net creation/redemption value adds the positive number of creations with the negative number of redemptions
2 Gross primary activity value is the addition of the absolute total creations to the absolute total redemptions thereby showing the total activity hitting the fund
3 Gross secondary activity is the addition of the absolute value of the buys and sells in the secondary market
Source UK Services Limited is regulated by the UK Financial Services Authority.
Source: ETFWorld – Euronext
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