Jeff Tjornehoj
List of all the posts by Jeff Tjornehoj
Ho-Hum Week for Flows Activity
Equity markets were fairly flat for the fund-flows week ended Wednesday, May 18. The Dow Jones Industrial Average finished the week down 185 points (-1.05%). For the week equity exchange-traded fund (ETF) authorized participants pulled $1.7 billion net from ETFs. They added $942 million net to SPDR S&P 500 (SPY) while removing $1.2 billion from iShares MSCI Emerging Markets (EEM) and $1.9 billion from iShares Russell 2000 (IWM). Equity mutual fund investors pulled $2.2 billion net from their funds and brought the year-to-date equity mutual fund net outflows to $30.4 billion. Taxable bond mutual funds collected $2.1 billion of netRead More
Hot Launches
With just $23.9 billion in net inflows this year, exchange-traded products (ETPs) are having their slowest start since the first five months of 2010 when only $18.7 billion in net inflows were made. But the industry continues to launch new products anyway and through this week (May 18) another 88 products have been unveiled. We took a look to see which ones have had the best luck attracting cash. Through May 18 the fastest-growing ETP is SPDR SSGA Gender Diversity Index (SHE), which tracks a market-cap weighted index of large U.S. companies that that exhibit gender diversity in their seniorRead More
Thomson Reuters Lipper Weekly US Fund Flows Video Series— April 27, 2016
Equity markets were flat for the fund-flows week ended Wednesday, April 27. As is their habit these days, equity mutual fund investors pulled $4.5 billion (net) from their funds and brought the year-to-date equity mutual fund outflows to $18.3 billion. Jeff Tjornehoj presents additional insights in this week’s flows video.Read More
Oil, China Correlations Still High
With oil prices up 59% from their mid-February lows and both the S&P 500 and Hang Seng indices up somewhere around 15%-17% since then, we wondered if—and how tightly—both indices are performing together. Running 50-day correlations would also test whether the same close relationship still exists for the S&P 500 relative to commonly quoted commodities such as oil and copper. In relation to China’s main index the S&P 500 has continued to walk side by side, with the 50-day correlation still near 0.95. Curiously, for many years copper prices were considered a reliable indicator of China’s economic strength (and stockRead More
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