The all-powerful US equity market grabbed the lion’s share of a solid $116.1bn of global net inflows to exchange traded funds in May, as the industry bounced back from April’s “muted” $69.6bn of buying.
However, amid signs that the tectonic plates of monetary policy and market dynamics were slowly shifting, there were noteworthy inflows to some comparatively niche areas such as European equities, utility stocks and high-yield bonds.
High-yield bond ETFs pulled in a net $5.4bn of new money in May, according to data from BlackRock, their strongest month since November and an emphatic reversal of the $2.2bn they bled in April.
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