September 22, 2017

Science & Technology Funds Continue to Attract Net New Money

by Patrick Keon

Funds in Thomson Reuters Lipper’s Science & Technology Funds peer group ((including both mutual funds and exchange-traded funds [ETFs]) experienced net-positive flows of over $861 million for the fund-flows week ended Wednesday, September 20. This was the group’s second largest weekly net inflows for the year to date (trailing only the +$1.0 billion for the fund-flows week ended January 25) and its tenth net inflows in the last 11 weeks. During this period the peer group attracted $1.8 billion of net new money to push its year-to-date net-positive flows to $6.2 billion. The Science & Technology Funds group suffered net outflows of $5.1 billion for 2016.

The majority of the net inflows, both for the past week and the year to date, came from ETFs in the science and technology group. For the past week science and technology ETFs took in $846 million of net new money, while for the year to date they were responsible for all the positive net flows (+$6.3 billion). The major contributors to the week’s numbers were VanEck Vectors Semiconductor ETF (SMH, +$420 million), iShares North American Tech-Software ETF (IGV, +$176 million), and Technology Select Sector SPDR (XLK, +$138 million). For the year to date the largest net inflows belonged to Vanguard Information Technology Index ETF (VGT, +$1.6 billion), Global X Robotics & Artificial Intelligence ETF (BOTZ, +$343 million), and Fidelity MSCI Information Technology Index ETF (FTEC, +$300 million).

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