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Rating:ETF Roundup: $30 Billion Flowed Out of Gold Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 06, 2013

ETF Roundup: $30 Billion Flowed Out of Gold

News summary by MFWire's editors

Most commodity ETFs are seeing outflows, but there is no question gold ETFs have been hit the worst, Barrons' Brendan Conway writes.

BlackRock [profile] released figures on net asset outflows from gold ETFs and related investments, leading to a whopping loss of $30.9 billion this year through July 31st.

State Street Bank & Trust [profile] SPDR Gold Trust suffered the most, having $20 billion in outflows. iShares Gold Trust follows with redemptions of $1.8 billion. Invesco [profile] PowerShares DB Gold and ETFS Physical Swiss Gold Shares rank seventh and eighth, with iShares Silver Trust managing to bring in net inflows during the year so far.

As other asset management firms are doing, Charles Schwab [profile] plans to launch target-duration ETFs designed to mitigate vulnerability to rising interest rates. The ETFs will have durations of two months, nine months and 12 months, InvestmentNews' Jason Kephart writes.

The money market-like funds, Schwab TargetDuration ETFs, will be similar to Pimco [profile] Enhanced Short Maturity ETFs and Northern Trust Investments [profile] FlexShares Ready Access Variable Income Fund, Kephart writes. The ETF will investment more broadly than money market funds, offering higher yields, as the average money market fund offers just 0.01 percent yield today, Kephart reports.

To read more, click Barrons' and here.  

Edited by: Casey Quinlan

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