The S&P/ASX 200 declined 1.2% for the week, dragged down by the resources sector; the five poorest performing funds for the week were all mining-related ETFs. In the US, the S&P 500 gained 0.7% and the ANZ ETFS S&P 500 High Yield Plus ETF (ZYUS) returned 1.5% as defensive sectors such as utilities and real estate returned to favour on uncertainty around key tax reforms. In Europe, the EURO STOXX 50 declined 0.1% despite positive growth data and a declining euro.
Gold continued to climb in 2017, adding 0.9% for the week, taking its total gains to 11.4% in US dollar terms since its December lows. Platinum also continued to perform, with ETFS Physical Platinum (ETPMPT) returning 1.5% for the week, its fifth consecutive weekly gain.
The Australian dollar traded at 3 month highs during the week before retreating back below US77c to end the week slightly stronger.
The Australian ETF market saw inflows of A$78m and outflows of A$71m from domestically domiciled ETFs. The largest inflows were into US equities (IHVV) and gold (GOLD) and the largest outflow were from global equities (IHOO).
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