{"id":598886,"date":"2019-06-11T04:00:21","date_gmt":"2019-06-11T04:00:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/etfs-a-magnet-for-em-investors-but-not-all-markets-are-equal\/"},"modified":"2019-06-11T04:00:21","modified_gmt":"2019-06-11T04:00:21","slug":"etfs-a-magnet-for-em-investors-but-not-all-markets-are-equal","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/etfs-a-magnet-for-em-investors-but-not-all-markets-are-equal\/","title":{"rendered":"ETFs a magnet for EM investors \u2014 but not all markets are equal"},"content":{"rendered":"

EM ETFs attract USD 84 bn in inflows in 16 months \u2014 but not all markets are equal:<\/b> ETFs that specialize in emerging markets drew some USD 84 bn in the 16 months leading up to mid-April. But statistics from financial data provider EPFR<\/a> show that 80% of inflows went to the stocks of companies in only five countries: China, South Korea, India, Brazil and Taiwan. This trend shows that EM investors are consciously \u201cpicking sides,\u201d rather than adopting a broadly diversified approach to fund acquisition, The Wall Street Journal<\/a> says.<\/p>\n

China and India are attracting the lion\u2019s share of passive inflows:<\/b> Both India and China\u2019s shares of ETF money exceed their current weightings in the MSCI Emerging Markets Index, with India accounting for 11% of ETF inflows (despite having an MSCI index weighting of 9.5%) and China hoovering up a whopping 41% of inflows (despite a weighting of 31%). Investment in these high-growth economies makes sense, say analysts, but a few factors have enhanced China\u2019s appeal. 2018\u2019s relatively slow GDP growth and the prospect of a trade war with the US led to stocks on the Shanghai Composite Index<\/a> falling 30%. This was then followed in early 2019 by initial optimism around US-China trade talks, government stimulus and the prospect of an economic overhaul to kickstart the Chinese economy, all of which served as a \u201cmagnet\u201d to investors.<\/p>\n

Several strong markets have been overlooked:<\/b> The WSJ piece lists several EMs that have been given a wide berth by investors despite being strong economies. Vietnam, for instance, attracted only 0.6% of ETF money in the 16-month period despite its high-growth economy.<\/p>\n

This is the EM beyond BRICs effect we were talking about yesterday.<\/b> As we noted in yesterday\u2019s Macro Picture<\/a>, the competition for inflows between non-BRICs emerging markets and frontier markets are intensifying, particularly during periods of EM instability. This results in some of the stronger emerging markets struggling to attract foreign capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

EM ETFs attract USD 84 bn in inflows in 16 months \u2014 but not all markets are equal: ETFs that specialize in emerging markets drew some USD 84 bn in the 16 months leading up to mid-April. But statistics from financial data provider EPFR show that 80% of inflows went to the stocks of companies […]<\/p>\n","protected":false},"author":1,"featured_media":598887,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9272],"tags":[116,115,72,2108,1404,125,1510],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-china","tag-emerging-markets","tag-enterpriseam","tag-etfs","tag-india","tag-investment-watch","tag-the-macro-picture","wpautop","entry"],"acf":{"mongo_id":"6d4b5e07-2cf8-40d8-b010-cc024027079e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/6\/1232.jpg","photo_position":"above","related_issue":[598860],"teaser":"","voice_url":""},"yoast_head":"\nETFs a magnet for EM investors \u2014 but not all markets are equal - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/etfs-a-magnet-for-em-investors-but-not-all-markets-are-equal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ETFs a magnet for EM investors \u2014 but not all markets are equal\" \/>\n<meta property=\"og:description\" content=\"EM ETFs attract USD 84 bn in inflows in 16 months \u2014 but not all markets are equal: ETFs that specialize in emerging markets drew some USD 84 bn in the 16 months leading up to mid-April. 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The iShares MSCI EM ETF saw a record increase in short interest as yearly gains on EM ETFs were almost entirely wiped out,\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/38.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594648,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/investors-pulled-usd-13-8-bn-from-emerging-markets-in-august-iif\/","url_meta":{"origin":598886,"position":1},"title":"Investors pulled USD 13.8 bn from emerging markets in August -IIF","author":"enterpriseam admin","date":"3 September 2019","format":false,"excerpt":"IIF tracker confirms EMs might want to wipe August from their memories: Net emerging markets portfolio inflows witnessed their most unfortunate month in August since November 2016, according to the Institute of International Finance\u2019s (IIF) most recent capital flows tracker. Investors pulled out roughly USD 13.8 bn from EM stocks\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/248.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555881,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/omicron-fed-taper-hits-emerging-market-bond-etfs\/","url_meta":{"origin":598886,"position":2},"title":"Omicron + Fed taper hits emerging-market bond ETFs","author":"enterpriseam admin","date":"30 November 2021","format":false,"excerpt":"Omicron + Fed taper hits emerging-market bond ETFs: Investors pulled more than USD 850 mn from emerging-market debt ETFs last week as the discovery of the Omicron covid variant and the decision to keep Jay Powell as Federal Reserve head for another term fuelled risk-off sentiment, data from Bloomberg shows.\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572665,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/05\/em-portfolio-inflows-continue-to-recover-in-june-as-sentiment-shifts\/","url_meta":{"origin":598886,"position":3},"title":"EM portfolio inflows continue to recover in June as sentiment shifts","author":"enterpriseam admin","date":"5 July 2020","format":false,"excerpt":"Net portfolio inflows to emerging markets continued to recover in June, soaring to USD 32.1 bn from USD 3.5 bn in May, according to the Institute of International Finance\u2019s (IIF) most recent capital flows tracker. Equity flows also turned positive again from a negative performance in May, with USD 3.4\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/20.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564451,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/were-happy-when-ems-score-usd-53-5-bn-in-a-month\/","url_meta":{"origin":598886,"position":4},"title":"We\u2019re happy when EMs score USD 53.5 bn in a month","author":"enterpriseam admin","date":"7 February 2021","format":false,"excerpt":"Emerging markets posted their tenth consecutive month of positive net portfolio inflows, a sign that EMs are in favor with global investors, according to the Institute of International Finance\u2019s (IIF) monthly capital flows tracker picked up by Reuters. EM stocks and bonds attracted some USD 53.5 bn of net inflows\u2026","rel":"","context":"In "Macro picture"","block_context":{"text":"Macro picture","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/415.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591779,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/17\/egypts-pound-rallies-to-near-three-year-high-breaking-egp-16-usd-1-barrier\/","url_meta":{"origin":598886,"position":5},"title":"Egypt\u2019s pound rallies to near three-year high, breaking EGP 16 \/ USD 1 barrier","author":"enterpriseam admin","date":"17 December 2019","format":false,"excerpt":"EGP rallies to near three-year high: The EGP rose to its highest level since February 2017 against the USD, breaking the EGP 16 barrier to reach EGP 15.97 yesterday, central bank data shows. The EGP has risen 10.1% against the USD since the beginning of the year, according to Al\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/4\/EGP-USD-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=598886"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598886\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/598860"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/598887"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=598886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=598886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=598886"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=598886"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=598886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}