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

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