Assets in smart beta equity exchange traded funds and products (ETFs/ETPs) listed globally went slightly over $607bn (€514bn) at the end of July, according to figures published by ETFGI.
The figure breaks down as follows, the analyst and consultancy firm said: US $538.6bn, Europe $44.8bn, Canada $14.8bn, Asia Pacific ex-Japan $5.6bn. (About €456bn, €37.9bn, €12.5bn and €4.7bn respectively.)
Net inflows to smart beta equity products hit $6.39bn (€5.4bn) over the month, which together with market moves helped take total asserts to the new $607bn figure, and put the compound annual growth rate (CAGR) over five years on 31.9%.
The tally of relevant smart beta equity funds and products hit 1,264, from 154 providers on 40 exchanges in 30 countries, ETFGI reported.
Deborah Fuhr, managing partner, said: “Most equity markets continued to see gains in July. The S&P 500 gained 2% with telecom and info tech the top performing sectors, up 6% and 4%, respectively. International equities, and especially emerging markets, were up 3% and 6%, respectively. Political risks remain a focus for investors – the ability of the Trump administration to move forward on policy goals and hearings on Capitol Hill, Brexit negotiations, and North Korea is still an area of concern.”
Some 89% of smart beta assets tracked by ETFGI are invested in funds and products domiciled and listed in the US.
In terms of provider firms, iShares gathered the largest net inflows over the month in the segement ($1.53bn/€1.3bn), with Vanguard ($1.52bn/€1.28bn) and PowerShares ($0.7bn/€593m) the next most successful on that basis.