May sees US fixed-income ETP record despite flight from high-yield bond products
High-yield ETPs in the US experienced their first outflows since November 2011, but inflows into government bond products propelled May to a record-breaking month for fixed-income ETPs
Fixed-income exchange-traded products (ETPs) pulled in $11 billion globally in net flows in May 2012, setting a record month for products linked to this asset class, with the majority ($7.2 billion) coming from the US.
But while it was high-yield bond ETPs that helped propel January to a record-breaking month (at $9.1 billion), May saw investors turn toward government bond ETPs, according to a BlackRock industry report.
Although in Europe the figures were still positive, in the US, high-yield
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