Oil, gold accounts for 90% of flows into long ETCs

January 20, 2009

Net flows into all long ETCs rose by $216mn last week, the largest weekly rise since July 2008. Oil and physically-backed gold ETCs accounted for 90% of the increase with a diverse group of precious metals,agriculture and energy ETCs seeing the remainder of the inflows.

Long oil ETCs saw their strongest inflows ever, with total inflows rising by $147mn during the week. Total inflows have now increased by $583mn since the beginning of November, rising faster than any other commodity class.

ETFS Crude Oil (CRUD) is the most popular oil ETC, with total flows since inception standing at $329mn. Last week was its biggest week since listing in 2006 with $73mn of inflows, making it the most popular ETC last week. ETFS WTI (OILW) also saw strong inflows of $28mn followed by $22mn of inflows into ETFS Brent (OILB).

It is also interesting to note that ETFS Leveraged Crude Oil (LOIL) saw $25mn of inflows last week, the largest weekly flow since listing in February 2008. LOIL is now the most popular of the leveraged ETCs having pushed ETFS Leveraged Gold (LBUL) out of first place in the third week of December. ETFS Short Crude Oil (SOIL) saw continued outflows last week, with net flows now down $24mn since the beginning of November.

Physically backed gold ETCs also continued to show very strong inflows last week, with Gold Bullion Securities (GBS) receiving $52mn of inflows. Since the middle of November there has been a marked increase in interest in physically-backed gold ETCs with net inflows rising by $350mn. ETFS Physical Gold (PHAU) has seen $293mn of inflows over the period, accounting for 83% of the physical gold inflows.

After oil and gold the largest inflows last week were into ETFS Physical Platinum (PHPT) with a $5mn increase, followed by ETFS Physical Silver (PHAG) with a $3mn increase. Other ETCs that have seen increased interest include ETFS Wheat (WEAT), ETFS Soybeans (SOYB), ETFS Livestock (AIGL) and ETFS Industrial Metals (AIGI).

Courtesy: ETF Securities Ltd

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