Commodity exchange-traded fund (ETF) investors are focusing their investments on funds with broad commodities exposure as they pull away from troubled god funds, findings from funds tracker Lipper disclosed.
Tagged as "General Commodities Funds," American ETFs are drawing more than $1 billion in February this year, recording their highest in almost a year following outflows from September through December last year, Lipper data showed.
Lipper has the most records of outflow in February after Thompson Reuters started to focus on tracking investment activity among commodity ETFs in November of 2004.
World's largest gold-backed ETF SPDR Gold Trust recorded almost all of that outflow in that month.
Funds with wider commodities exposure saw increase in investment after the United States and Europe are seen with signs of stronger economic recovery.
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