The global ETF industry enjoyed general inflows over the course of January 2025. These inflows occurred in a mainly positive but volatile market environment. The markets were driven by the effects around the inauguration of Donald Trump as the next U.S. president. On one hand, investors appreciated the expected positive impacts on the U.S. economy from the new administration. Meanwhile, they feared the impacts from possible tariffs, which may cause a global trade war as an unwanted side-effect and higher government spending on inflation and, therefore, on the resulting policies of the U.S. Federal Reserve. That said, the high valuations

Monday Morning Memo: Global ETF Industry Review, October 2024 The global ETF industry enjoyed general inflows over the course of October 2024. These inflows occurred in a mixed market environment. While most equity markets were either flat or haven’t risen further despite the high valuations of the market leaders over the course of the month, some bond segments faced the impacts from rising rates as yield curves have somewhat started to normalize. This might also be the reason why investors are somewhat nervous and reacting quite fast on any news that may impact the current market environment negatively. An example

The global ETF industry enjoyed general inflows over the course of September 2024. These inflows occurred in a positive market environment. Equity markets were rising further despite the high valuations of the market leaders. This might also be the reason why investors are somewhat nervous and reacting quite fast on any news that may impact the current market environment negatively. An example of this was the short-term market turmoil in August when investors had to unwind their yen-based carry trades after the yen increased sharply in value compared to the U.S. dollar. This is not only true for economic news,

General Overview The global ETF industry enjoyed general inflows over the course of August 2024. These inflows occurred in a positive market environment. Nevertheless, equity markets looked somewhat vulnerable given the high valuations of the market leaders. With regard to this, it is not surprising that investors are nervous and reacting quite fast on any news that may impact the current market environment negatively. This is not only true for economic news, as the geopolitical tensions in the Middle East, especially the developments around the Red Sea, are seen as a risk for the general economic growth in Western countries

General Overview The global ETF industry enjoyed general inflows over the course of July 2024. These inflows occurred in a positive market environment. Nevertheless, equity markets looked somewhat vulnerable given the high valuations of the market leaders. With regard to this, it is not surprising that investors are nervous and reacting quite fast on any news that may impact the current market environment negatively. This is not only true for economic news, as the geopolitical tensions in the Middle East, especially the developments around the Red Sea, are seen as a risk for the general economic growth in Western countries

June 2024 was another month with healthy inflows for the global ETF industry. These inflows occurred in a positive market environment. Nevertheless, equity markets looked somewhat vulnerable given the high valuations of the market leaders. With regard to this, it is not surprising that investors are nervous and reacting quite fast on any news that may impact the current market environment negatively. This is not only true for economic news, as the geopolitical tensions in the Middle East, especially the developments around the Red Sea, are seen as a risk for the general economic growth in Western countries since a

General Overview April 2024 was another month with healthy inflows for the global ETF industry. These inflows occurred in a further unstable market environment since the geopolitical tensions in the Middle East increased over the course of the month. Especially the developments around the Red Sea may impact the economies in Western countries since a number of shipping companies these days avoid the passage of the Suez channel. It is, therefore, to be expected that the prolonged delivery times will cause some tensions for the still vulnerable delivery chains. Market sentiment was further driven by hopes that central banks—especially the

General Overview February 2024 was another month with healthy inflows for the global ETF industry. These inflows occurred in a further unstable market environment since the geopolitical tensions in Middle East, especially the Red Sea, increased over the course of the month as the European Union decided to send military ships to protect commercial vessels from the attacks of Houthi rebels. Nevertheless, since a number of shipping companies avoid nowadays the passage of the Suez channel, it is to be expected that the prolonged delivery times will cause some tensions for the still vulnerable delivery chains. Market sentiment was further

General Overview The global ETF industry enjoyed healthy inflows over the course of January 2024. These inflows occurred in a further unstable market environment since the geopolitical tensions in Middle East, especially the Red Sea, increased over the course of the month and impacts from prolonged delivery times caused by the fact that shipping companies avoid the Suez channel as they don’t want their ships to be targets for the Houthi rebels. Nevertheless, some asset classes showed positive results while others performed negatively. Market sentiment was further driven by hopes that central banks—especially the U.S. Federal Reserve—have reached the last

General Overview It’s fair to say that 2023 was a challenging year for portfolio managers around the globe since the markets were driven by a number of different factors and unpredictable incidents. Each of these could have caused a major market downturn on their own. First of all, there were a lot of geopolitical tensions around the globe beside the still ongoing war in Ukraine, which showed that democratic states might be more vulnerable than one may think. The concerns of investors, especially in Europe, increased towards the end of 2023 since the actions taken by the Houthi rebels in

General Overview It was not surprising to see that ETFs enjoyed overall inflows on a global basis over the course of November 2023. Nevertheless, these inflows occurred in an unstable but in general positive market environment. The market sentiment was driven by hopes that central banks—especially the U.S. Federal Reserve—may have reached the last phase of their fight against high inflation rates and may keep interest rates at least stable. Some investors already expect that there might be room for decreasing interest rates early next year, but these expectations might be too positive given the hawkish statements from the Fed

It was not surprising to see that ETFs enjoyed overall inflows on a global basis over the course of September 2023. Nevertheless, these inflows occurred in an unstable market environment in which some asset classes showed positive results, while others performed negatively. The market sentiment was driven by hopes that central banks—especially the U.S. Federal Reserve—may have reached the last phase of their fight against high inflation rates and may, therefore, start to keep interest rates at least stable quite soon. Some investors already expect that there might be room for decreasing interest rates later this year, but these expectations