This week's highlights
ETFS Reliance India Nifty 50 ETF (NDIA) was the top performing Australian ETF last week, returning 2.4%, as the Indian market continued to rally on the back of corporate tax cuts. IIND returned 1.9%. Global and domestic property funds (REIT, DJRE and MVA) were also amongst the week’s top performers.
Asian equities (CNEW, ASIA, IKO, CETF and IZZ) all posted negative returns. U.S. healthcare stocks were also hit, with ETFS S&P Biotech ETF (CURE) down 7.5%.
Gold declined moderately for the week, while gold mining ETFs (GDX and MNRS) posted bigger drops. ETFS Physical Palladium (ETPMPD) continued to rally. Oil pulled-back from last week’s gains, with OOO down 3.8%.
Total flows into domestically domiciled ETFs were $321m, while outflows totalled just $1m. Inflows were dominated by domestic equities funds (A200, STW, IOZ and QOZ). Cash and fixed income ETFs (AAA, IAF, HBRD, CRED and QPON) also saw flows.
STW was the most traded fund last week, followed by other broad-based domestic funds (VAS, A200, and IOZ). VHY saw above average trading volumes.