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Record-breaking Week For ETF Securities
January 26, 2009 12:37 am
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Aggregate ETC inflows for the week were US$581 million (£430 million), the largest net weekly inflow on record, while ETC purchases over the last seven weeks have totalled £1 billion. Physcial gold ETC inflows last week totalled US$ 367 million (£272 million), with oil ETC demand also showing a strong rise. Over the last 11 weeks, gold and oil ETC purchases have constituted 90% of all purchases. Agricultural ETC inflows registered US$56 million (£42 million) last week, the largest weekly inflow since April 2008. Commenting on the investor demand, Nik Bienkowski, COO at ETF Securities, said:
"In the last two months of 2008 and continuing this year, investors are seeking assets which are liquid, secure and transparent. Exchange traded commodities (ETCs) solve these issues and, as a result, it's not surprising that record flows of $581m (£430m) were experienced across a range of ETCs. In addition, ETCs generally have low to negative correlation to equities and bonds.
"With oil prices around $45/bl, credit risk an issue and a number of well published issues in the agricultural market, ETCs provide an ideal structure to take advantage of these themes. As a result, a number of collateralised products, including ETFS Physical Gold, ETFS Agriculture and ETFS Crude Oil, have all experienced record inflows over the past few weeks. These record flows are proof that investors are willing to invest their money in secure and transparent structures."
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