ETP assets fell in August, defensives gained

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European ETP investors shifted into defensives in August and out of risky assets in response to market volatility, Deutsche Bank reports.

The European exchange-traded products (ETP) market had outflows of €1bn last month, with ETFs experiencing outflows of €1.1bn, while exchange-traded commodities (ETCs) saw inflows of €100mn. Total European ETP assets declined 5.9% during August, to end the month at €233.1bn. This was largely driven by falling asset prices, Deutsche reports. Gold (€795mn), sovereign bonds (€542mn) and money market (€308m) products all had strong inflows, which Deutsche states is characteristic of the market mood where investors are exiting risky assets. In line with that, equity ETFs had outflows. ...

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