Cyclical sectors were a la mode for investors in US-listed ETFs during October. Equity funds in general continued to attract robust inflows, and a large amount went into sector investments.
The more economically sensitive sectors, notably Industrials and Materials, dominated inflows during the month. In terms of year-to-date figures, Technology and Financials kept up their battle for sector leadership position, spurred on by expectations for Q3 results and tax reform.
Features of this issue are:
- ETF Flows – these were significant last month and show the continuing battle for sector leadership between Financials & Tech
- Performance – a story of Tech – all our picks outperformed
- Picks/Sectors to Watch – US Financials, Europe Consumer Discretionary, Europe Materials, World Materials – we will be updating on all of these at the next MMM
