Reuters: Private Equity: Canadian ETF assets fall in May

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Canadian ETF assets fall in May Jun 11th 2012, 19:40 Mon Jun 11, 2012 3:40pm EDT * ETF assets fell 3.7 pct in May to C$47.5 bln * Net outflows were C$116 mln in the month * Canadian equities weigh TORONTO, June 11 (Reuters) - Assets managed in Canadian exchange traded funds fell by 3.7 percent to C$47.5 billion ($46.2 billion) in May as weak Canadian equity markets trimmed values, according to a report released on Monday. Canadian ETFs overall had net outflows of C$116 million in May, according to a monthly report from the Canadian ETF arm of New York-based BlackRock Inc, the world's largest money manager. ETFs are investment vehicles that own an array of assets, similar to mutual funds, but have shares that are traded on public exchanges. Weak stock markets and falling demand for Canadian equity products weighed on ETF assets under management. Canadian equity ETFs notched C$334 million in net new outflows, offsetting the C$153 million in net new fixed-income ETF assets under management. "Year-to-date net inflows remain strong at C$5.4 billion, representing asset growth of 12.5 percent since Dec. 30, 2011," BlackRock said in a statement. Fixed income and Canadian equities continued to lead the market in May with 84.3 percent of current assets under management. BlackRock's Canadian iShares business had a market share of 78.1 percent in May, with assets under management of C$37.2 billion. Bank of Montreal's ETF assets under management were C$6.0 billion, while Horizon's were C$3.2 billion. Invesco PowerShares had C$791 million in ETF assets under management, Vanguard had C$230 million, Royal Bank of Canada had C$110 million, and XTF Capital had C$74 million, the report said. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions