The ETFs ( Exchange Traded Funds ) have also become interesting in Italy and valuable form of investment that is the real alternative to the various forms of asset management.The difference with respect to the Fund and funds, is basically due to the fact that ETFsare usually passively managed. And perhaps many funds are …

In fact, this form of investment, known in the U.S. since the 90's and listed in PiazzAffari “only” from 2002 is often an integral part of managers’ portfolios. The famous Spyder orQQQ have now sidereal importance in the investment world.
‘ll then realized that the U.S. market for ETFs is much more than a produce market in passive management. It ‘a real benchmark for volume and importance.
then understand that analyzing this market gives you the opportunity to better understand how you are moving cash and investments.

Using the platform Bloomberg I downloaded a bit ‘of data, I’ve reworked and here’s the result.
How I got then becomes important and a must see. And, let me, being a research done by myself, you’ll find it only on I & M.
As my usual, I prepared two graphs.

This slide in its simplicity tells a lot of the market. In fact tells us what are the geographical areas “ targeted “by investors, where the cash flows are directed and where the cash flows are output instead.
On a monthly basis is evident desire to follow the trend of ETFs that are so greatly emphasizing The rally in European markets ( the great rise of gold, being guided by the ETF, you ricolda something? ).
Eastern Europe A wheel that exploits the wake of Europe.

Leaving aside the amounts to little ones, I would like to point out the downside, note that certifies that Europe has taken the baton from other areas.
Look at the ‘ Asia. Impressive output flows from that.
But even more impressive is the fact that, in the end, it’s arithmetic. flows that are passed from one market to another. Which today and tomorrow so there are … who knows.

This second chart instead interested in the stock market and makes us see in what areas did the finanzairi flows on equity ETFs.
At the top health, materials, real estate, utilities. The industrialists? The consumer discretionary and cyclical? All the post.
To each of you I leave the ruminations of the case.