This week's highlights
U.S. and Australian equity markets finished up last week. Oil rebounded and technology stocks bounced (OOO and ATEC) were the top performers for the week, returning 14.7% and 10.8% respectively. Biotechnology fund CURE also had a strong week up 8% and Global TECH was up 7.9%.
Total flows into domestically domiciled ETFs were $286m, while outflows totalled $172m. iShares Composite Bond ETF (IAF) saw the biggest inflows for the week, followed by QUAL and defensive strategies GOLD and BBUS. iShares Core Cash (BILL) saw the week’s biggest outflows.
Bearish domestic fund BBOZ was the most traded fund for the week, followed by MSTR and VAS.
ETFS S&P Biotech ETF (CURE), which tracks a basket of the world’s leading biotechnology companies listed in the U.S., returned 8% for the week. The sub-sector remains popular given the demand for a COVID-19 treatment or vaccine.