The largest ETF fund inflow by sector last week was in utilities, new figures have shown.
The largest ETF fund inflow by sector last week was in utilities, new figures have shown.
Results published by BlackRock showed that this area saw $140.4 million (£86.30 million) in the last seven days, while oil and gas experienced inflows of $100.7 million.
DJ STOXX 600 sector ETFs experienced net inflows of $173.7 million during this period, although banks saw a net outflow of $63.5 million.
At present, the assets invested in ETF funds are greater than the open interest in the sectors’ futures contract.
BlackRock stated: “Year-to-date, Utilities have been the most popular sector with $150.1 million net new assets, followed by oil and gas with $114.8 million net inflows.”
It revealed that the least popular ETF funds have been in the food and beverage sector, with year-to-date net outflows of $90.4 million.
Earlier this month, UK growth fund manager at Fidelity International Tom Ewing claimed that hedge funds will have numerous stock-picking opportunities in 2010.
