ETF Securities suffered a sharp slowdown in investor inflows in the first half of 2011 due mainly to substantial withdrawals from its gold and silver funds.
However, the outflows proved short-lived as the sovereign debt crisis in Europe and political deadlock over the US debt ceiling sent risk averse investors racing back to gold and silver in July.
So far in July, investors have allocated $432m to ETF Securities gold products, reversing withdrawals of $413m in the first six months of the year.
A similar pattern was evident in the company’s physically backed silver ETF, which gathered inflows of $53m in July, almost making up for withdrawals of $64.8m in the first half amid the silver market’s sharp correction.
In total, investors pulled $516.5m from ETF Securities’ range of physically-backed precious metals ETFs in the first half of 2011. Read More
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