Middle East ETF assets dropped in April

ETFsAssets invested in exchange-traded funds and products (ETFs and ETPs) in the Middle East and North Africa fell 1% to $37.9 billion in April 2018, according to figures from consultant ETFGI. The ETFGI figures show there was a net outflow from ETFs and ETPs of $365 million in April, making it the seventh consecutive month of outflows. A net $1.72 billion has flowed out of ETFs and ETPs in the first four months of 2018. According to ETFGI, a vast proportion of these outflows can be attributed to the top 20 ETFs which collectively suffered $432 million of outflows so far in 2018. The NewGold ETF accounted for net outflows of $184 million. The outflows in April were evenly split between fixed income and equity ETFs with the former accounting for $127 million in April and $528 million for the year so far and the latter recording outflows of $126 million in April and $693 million for the year to date. ©2018 funds global mena

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