Global smart beta ETPs and similar products suffered substantial outflows in July.
Data from consultancy firm ETFGI shows investors pulled out $2.22 billion (€1.9 billion) from equity-based smart beta ETPs and ETFs throughout the month.
These heavy redemptions bring year-to-date inflows to $10.36 billion – significantly lower than the $52.90 billion gathered at this point last year.
July marked the third consecutive month of net outflows for smart beta ETFs and ETPs listed globally, according to ETFGI.
Assets in global ETPs and ETFs also decreased by 5.2% from $836 billion to $818 billion, the report shows.
At the end of July 2020, there were 1,351 smart beta equity ETFs/ETPs, with 2,540 listings from 179 providers listed on 41 exchanges in 33 countries.
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