ETF Securities witnesses biggest one-day commodity inflow

ETF Securities recorded its biggest one-day, exchange-traded commodity inflows last week despite chart-topping management fees for ETCs across Europe.

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On 15 July, ETFS's commodity platform saw net buying of $355m (£177.3m). Of this, 75 per cent went into precious metals, including $265m into gold. Leveraged gold alone saw inflows of $82m, while ETFS Agriculture also gained $50m in assets.

On the same day, the London Stock Exchange announced gold ETCs were two of its four most traded ETFs in June. ETFS Short Crude Oil was the second most traded ETF in London.

But ETF provider db x-trackers said commodity ETFs were the most expensive in Europe over the second quarter, with average AMCs of 0.42 per cent. Equity ETFs charged 0.37 per cent. The average ETF AMC was 0.33 per cent.

European AUM in equity ETFs went down 1.5 per cent in the first half of 2008, however, while European AUM in commodity ETFs soared by 82 per cent. Overall, the European ETF market grew by 9.7 per cent to €97.8bn (£77.6bn).

The number of ETFs available in Europe grew 15.9 per cent in the first half of the year, with 29 providers making 1627 listings of 497 new products.

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