Perhaps the most noteworthy cash flow news for the week has been the net slight outflows from gold, totaling €52 million. While the absolute number does not amount to much, it continues the trend down pointing to slowing gold inflows. Whether this is a trend or a result of the overall slowing cash flow activity, it is yet not clear. The majority of this week’s fixed income inflows (€129 million) went into ETFs tracking corporate indices. All other fixed income categories saw very little activity.

New Listings

Three new ETFs were listed this week and 34 were cross-listed. Emerging markets continued to be the new launches theme this week, with two of the three ETFs tracking China and overall emerging market indices.

Comstage was the most active ETF provider for the week, with two new listings and 32 cross listings on the Swiss Stock Exchange. Lyxor continued its cross listing activity on the BME (Bolsas y Mercados Españoles), with two additional commodity ETP cross listings this week.

Turnover

Consistent with the general July calm trading environment, average daily on-exchange ETP turnover declined 3.7%, maintaining its downward slope of the previous weeks, totaling €1.8 billion.

AUM

Rising equity markets contributed to the European ETP AUM rising by 2.2% to €196.5 billion. The equity segment of the market saw the biggest rise, 3.1%, with the commodity segment rising by 1.7% and fixed income by 0.5% respectively. European ETP AUM growth for 2010 YTD remains robust, registering at 15.5%.

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