ETF inflows set record high in July, State Street Global Advisors finds
It's a July for the record books.
State Street Global Advisors finds inflows into exchange-traded funds hit $127 billion. Not only was it the best July ever, but the firm's head of SPDR Americas research notes it is also the second-largest monthly inflow ever.
«Part of it is just the market,» Matt Bartolini told CNBC's "ETF Edge" on Thursday. «We see investors deploy cash from the sidelines. A lot of cash was built up over the years. We started to see investors really make a concerted effort to continue to buy into this rally. We also saw sort of broadening in the market depth in terms of rotation take place.»
Bartolini also points to a narrowing spread between growth and value-oriented ETFs.
«It's not so heliocentric towards tech,» he said.
BTIG's Troy Donohue thinks ETFs are pacing for a major milestone by the end of the year, as long as the macro factors of the election season don't make investors too hesitant.
«It's been a great start to the year,» said Donohue, BTIG's head of Americas portfolio trading. "[It] could be the first trillion-dollar year that the ETF industry has."
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