This week's highlights
Equity markets were mixed last week. India funds (NDIA and IIND) were the top performers for the week, returning 8.4% and 6.1% respectively. European funds (ESTX and HEUR) as well as a range of active ETFs (IMPQ, INES and VVLU) were also amongst the top performers. Biotech (CURE) and healthcare (IXJ) funds were amongst the poorest performers amidst coronavirus-related volatility.
Precious metals mostly declined last week with GOLD down 2.8% and palladium (ETPMPD) falling 4.6%. Oil remained volatile, but finished the week relatively unchanged. The Australian dollar traded above US65c before ending just above US64c.
Total flows into domestically domiciled ETFs were $317m, while outflows totalled $76m. Cash fund AAA saw the biggest inflows for the week, followed by QUAL and a range of domestic equity funds (A200, IOZ and STW). Hedged MSCI World fund (IHWL) saw the week’s biggest outflows.
Bearish domestic fund BBOZ was the most traded fund for the week, followed by VAS and bearish US fund BBUS. OOO saw above average volumes in-line with its flows.
ETFS Reliance India Nifty 50 ETF (NDIA), which tracks the 50 largest companies listed on India’s NSE, returned 8.4% for the week. The Indian market was buoyed by better than expected corporate earnings and encouraging initial results of a potential COVID-19 treatment.