February saw mixed results for the global exchange-traded fund (ETF) market, according to data from French fund house Amundi.
In Europe, investment flows were positive (at +€7.05 billion) in contrast to investors globally who pulled back slightly from the asset class (-€1.18 billion).
Despite a correction early in the month, the European equity ETF market held up well in February, gaining €5.2 billion.
However the US equity ETF market suffered €12.4 billion of withdrawals while globally the asset class ended the month with an overall outflow of €4.5 billion.
In bonds, strong ETF flows globally (+€3.4 billion) were shared amongst the three key investment regions.
While US investors substantially divested from their local market (-€17.9 billion), their European peers continue to increase their exposure to US equities (+€2 billion), as well as the eurozone (+€1.9 billion).
A revival of risk aversion has been unfavourable for corporate bond ETFs on both sides of the Atlantic. Flows instead shifted to government bond ETFs in comparable volumes.
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