ETFGI Press Release October 2014: Canada

ETFGI’s research finds ETFs listed in Canada saw net outflows of 85 million US dollars in October 2014

LONDON — November 10, 2014 — ETFGI’s research finds ETFs listed in Canada saw net outflows of US$85 Mn in October 2014, while year-to-date in the first 10 months of 2014 they gathered net inflows of US$6.0 Bn. At the end of October 2014 the Canadian ETF/ETP industry had 335 ETFs/ETPs, with 462 listings, assets of US$65 Bn, from 9 providers listed on 1 exchange, according to preliminary data from ETFGI’s end October 2014 Global ETF and ETP industry insights report.

Year-to-date net new asset (NNA) flows reached record levels for the ETF/ETP industries in Japan with US$15.7 Bn, Europe with US$56.2 Bn, and globally with US$233.4 Bn. Assets invested in the US-listed ETF/ETP industry hit a new record high of US$ 1.92 Tn.

“October was a challenging month with increasing macroeconomic concerns over deflation fears in Europe, the ECB’s stimulus program, Germany cutting GDP forecasts due to “geopolitical crisis”, dismal employment figures in France, 25 of around 130 European banks having reported to have failed the ECB’s “stress test”, and questions over the U.K.’s continued membership in the European Common Market. At the end of the month markets reacted positively to the Bank of Japan’s announcement of new annual purchasing targets of ¥80 Tn in bonds and ¥3 Tn in ETFs. The S&P 500 reached a new record, 2,018, which is up 1.2% for the month and 9.2% for the year. Developed markets ended the month down 2% while emerging markets gained 2%.” according to Deborah Fuhr, Managing Partner at ETFGI.

In October 2014 ETFs/ETPs saw net outflows of US$85 Mn. Equity ETFs/ETPs experienced the largest net outflows with US$537 Mn, while fixed income ETFs/ETPs gathered the largest net inflows with US$319 Mn, followed by commodity ETFs/ETPs which gathered net inflows of US$13 Mn.
 
BMO AM gathered the largest net ETF/ETP inflows in October with US$759 Mn, followed by Mirae Horizons with US$163 Mn and Vanguard with US$156 Mn net inflows. Year-to-date BMO AM gathered the largest net ETF/ETP inflows with US$3.9 Bn, followed by Vanguard with US$1.1 Bn and First Asset with US$487 Mn net inflows.

iShares is the largest ETF/ETP provider in terms of assets with US$38.4 Bn, reflecting 59.2% market share; BMO AM is second with US$15.8 Bn and 24.3% market share, followed by Mirae Horizons with US$4.0 Bn and 6.1% market share. The top two ETF/ETP providers, out of 9, account for 83.5% of Canadian ETF/ETP assets, while the remaining 7 providers each have less than 7% market share.

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