The global exchange-traded funds industry attracted $80.28 billion in May, bringing net inflows this year's inflows to $417.87bn, even as inflation concerns and US Federal Reserve rate increases weigh on markets, a report has said.
Assets invested globally in the ETF industry hit $9.46 trillion at the end of May, up 1 per cent from $9.36tn at the end of April, but down 7.9 per cent from $10.27tn at the end of 2021, the report by research and consulting company ETFGI found.
An ETF is a type of pooled investment security that operates in the same way as a mutual fund, according to Investopedia.
Typically, ETFs track a particular index, sector, commodity or other asset, but unlike mutual funds, they can be purchased or sold on a stock exchange, similar to a regular stock.
Globally, the number of ETFs grew to 8,552 in 2021, from 276 in 2003, according to Statista.
ETF assets under management worldwide will reach at least $18tn by 2026, at a 14.6 per cent compound annual growth rate between June 2021 and June 2026, a report by PwC found.
The global ETF market has built up “phenomenal momentum” over the past five years, with the Covid-19 pandemic further highlighting “ETFs’ remarkable resilience and growth potential”, the report said.
“Having steered through the market uncertainty and volatility of 2020 and 2021, ETFs are emerging from the crisis stronger than ever — bolstered by a surge in fund inflows, new entrants and product innovation.”
While equity and fixed-income products remain the ETF market’s largest segments, it is becoming more diverse with digitisation of ETF distribution also offering more scope for expansion geographically, the PwC report said.
Net inflows into ETFs so far this year are the second highest on record, compared to net inflows of $572.36bn in the same period in 2021, according to the ETFGI report.
ETFs recorded $1.14tn in net inflows in the past 12 months, while the industry recorded 36 months of consecutive net inflows, the research revealed.
Net inflows into fixed-income products stood at $34.37bn last month. However, they are down 13 per cent annually at $81.11bn so far this year.
Meanwhile, equity products recorded net inflows of $35.62bn in May, with year-to-date net inflows down more than 38 per cent annually at $245.06bn, ETFGI said.
Net inflows for equity ETFs and exchange-traded products (ETPs) listed globally stood at $35.62bn in May. Investors tended to invest in equity products during the month, the report said.
ETPs are types of securities that track underlying securities, an index or other financial instruments, according to Investopedia. While ETPs trade on exchanges, similar to stocks, their prices are derived from the underlying investments that they track.
“The S&P 500 was up 0.18 per cent in May but is down 12.76 per cent in the first five months of 2022, as inflation concerns, along with Fed rate hikes, weighed on markets,” said Deborah Fuhr, managing partner, founder and owner of ETFGI.
Developed markets, excluding the US, gained 0.73 per cent in May but are down 11.73 per cent so far this year, with Portugal (up 7.05 per cent) and Spain (up 4.67 per cent) posting the largest increases, she said.
“Emerging markets increased by 0.03 per cent during May but are down 11.53 per cent YTD [year to date],” Ms Fuhr said.
“Chile [up 19.75 per cent] and Colombia [up 9.02 per cent] saw the largest increases among emerging markets in May, while Hungary [down 13.81 per cent] and Pakistan [down 10.51 per cent] saw the largest declines.”
The top 20 ETFs collectively attracted $55.63bn during May, with iShares Core S&P 500 ETF gathering $8.07bn, the largest individual net inflow, according to the report.
Meanwhile, the top 10 ETPs collectively recorded inflows of $1.63bn in May. Invesco DB US Dollar Index Bullish Fund gathered $514 million, accounting for the single largest individual net inflow, the report showed.
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
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Schedule
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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Earth under attack: Cosmic impacts throughout history
- 4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon
- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.
- 50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater
- 1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.
- 1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.
- 1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.
-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.
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Panipat
Director Ashutosh Gowariker
Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment
Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman
Rating 3 /5 stars
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How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
More coverage from the Future Forum
US PGA Championship in numbers
1 Joost Luiten produced a memorable hole in one at the par-three fourth in the first round.
2 To date, the only two players to win the PGA Championship after winning the week before are Rory McIlroy (2014 WGC-Bridgestone Invitational) and Tiger Woods (2007, WGC-Bridgestone Invitational). Hideki Matsuyama or Chris Stroud could have made it three.
3 Number of seasons without a major for McIlroy, who finished in a tie for 22nd.
4 Louis Oosthuizen has now finished second in all four of the game's major championships.
5 In the fifth hole of the final round, McIlroy holed his longest putt of the week - from 16ft 8in - for birdie.
6 For the sixth successive year, play was disrupted by bad weather with a delay of one hour and 43 minutes on Friday.
7 Seven under par (64) was the best round of the week, shot by Matsuyama and Francesco Molinari on Day 2.
8 Number of shots taken by Jason Day on the 18th hole in round three after a risky recovery shot backfired.
9 Jon Rahm's age in months the last time Phil Mickelson missed the cut in the US PGA, in 1995.
10 Jimmy Walker's opening round as defending champion was a 10-over-par 81.
11 The par-four 11th coincidentally ranked as the 11th hardest hole overall with a scoring average of 4.192.
12 Paul Casey was a combined 12 under par for his first round in this year's majors.
13 The average world ranking of the last 13 PGA winners before this week was 25. Kevin Kisner began the week ranked 25th.
14 The world ranking of Justin Thomas before his victory.
15 Of the top 15 players after 54 holes, only Oosthuizen had previously won a major.
16 The par-four 16th marks the start of Quail Hollow's so-called "Green Mile" of finishing holes, some of the toughest in golf.
17 The first round scoring average of the last 17 major champions was 67.2. Kisner and Thorbjorn Olesen shot 67 on day one at Quail Hollow.
18 For the first time in 18 majors, the eventual winner was over par after round one (Thomas shot 73).
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
The specs: 2018 BMW X2 and X3
Price, as tested: Dh255,150 (X2); Dh383,250 (X3)
Engine: 2.0-litre turbocharged inline four-cylinder (X2); 3.0-litre twin-turbo inline six-cylinder (X3)
Power 192hp @ 5,000rpm (X2); 355hp @ 5,500rpm (X3)
Torque: 280Nm @ 1,350rpm (X2); 500Nm @ 1,520rpm (X3)
Transmission: Seven-speed automatic (X2); Eight-speed automatic (X3)
Fuel consumption, combined: 5.7L / 100km (X2); 8.3L / 100km (X3)
Roll of honour: Who won what in 2018/19?
West Asia Premiership: Winners – Bahrain; Runners-up – Dubai Exiles
UAE Premiership: Winners – Abu Dhabi Harlequins; Runners-up – Jebel Ali Dragons
Dubai Rugby Sevens: Winners – Dubai Hurricanes; Runners-up – Abu Dhabi Harlequins
UAE Conference: Winners – Dubai Tigers; Runners-up – Al Ain Amblers
Plan to boost public schools
A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.
It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.
Aspects of the school model will be extended to international private schools, the education minister has previously suggested.
Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.
Result
2.15pm: Maiden Dh75,000 1,950m; Winner: Majestic Thunder, Tadhg O’Shea (jockey), Satish Seemar (trainer).
2.45pm: Handicap Dh80,000 1,800m; Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.
3.15pm: Handicap Dh85,000 1,600m; Winner: Native Appeal, Adam McLean, Doug Watson.
3.45pm: Handicap Dh115,000 1,950m; Winner: Conclusion, Antonio Fresu, Musabah Al Muhairi.
4.15pm: Handicap Dh100,000 1,400m; Winner: Pilgrim’s Treasure, Tadhg O’Shea, Satish Seemar.
4.45pm: Maiden Dh75,000 1,400m; Winner: Sanad Libya, Richard Mullen, Satish Seemar.
5.15pm: Handicap Dh90,000 1,000m; Winner: Midlander, Richard Mullen, Satish Seemar
Company%20profile
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