Source has unveiled the Source Bloomberg Commodity UCITS ETF (LON: CMOD), a new fund tracking the well-known Bloomberg Commodity Index, and the latest addition to the firm’s “portfolio essentials” range of ETFs. At a cost of 0.40% per annum, investors may receive diversified exposure to over 20 commodities across the agriculture, energy, industrial metals, precious metals and livestock sectors. The fund will compete with existing funds from ETF Securities and UBS which track the same index.

Following net inflows of $1.1bn during the month of November, assets under management for actively managed ETFs/ETPs listed globally reached a new record high of $42.0bn. Record levels of assets were also reached at the end of November for active ETFs/ETPs listed in the United States at $28.7bn, Canada at $5.6bn, and in Asia Pacific ex-Japan at $1.9bn.

Assets invested in ETFs and ETPs listed in Europe were $556bn at the end of November, down from the record high of $567bn reached at the end of Q3 2016, according to latest research from ETFGI. Net flows gathered by ETFs/ETPs in November were still positive at $3.6bn, marking the 27th consecutive month of net inflows for the region. The most successful gatherers of net new ETF assets in November were BNP Paribas Easy with $1.5bn, Vanguard with $883m, and Source with $718m.

Solactive has unveiled the Solactive Power Factor High Dividend Index, tracking the performance of 50 US-listed stocks exhibiting high dividend yields and strong fundamentals. The index has been licensed to WBI Investments as the underlying for the recently launched ‘smart beta’ WBI Power Factor High Dividend ETF (NYSE: WBIY). Don Schreiber, Jr., Founder and CEO of WBI Investments, commented: “We’re introducing a smarter approach for yield starved investors at a time when the need for consistent capital growth and capital preservation is absolutely critical.”

BNP Paribas has launched two new exchange-traded commodities, on Deutsche Börse’s Xetra and Frankfurt exchanges tracking the price performance of gold and palladium. The BNPP Gold ETC (BNQJ) and the BNPP Palladium ETC (BNQL) are based on the cash price in US dollars for a troy ounce of their underlying precious metal. Each ETC has a total expense ratio of 0.99%.

London-based ETF Securities has announced that investors pulled $274m from their gold ETPs and $126m from their long oil ETPs during the week ended 2 December 2016, marking the largest outflows from these funds since July 2015 and August 2010 respectively. Nitesh Shah, Director, Commodities Strategist, ETF Securities has attributed the outflow from oil ETPs to savvy investors taking profits following the landmark deal reached by OPEC members, while investors shifted away from gold amid stronger signals the Federal Reserve would increase interest rates during their December meeting.

UBS has launched the UBS S&P 500 hedged GBP UCITS ETF (LON: USPG), offering exposure to the performance of the bellwether S&P 500 Index, the most widely followed reference for the performance of US large cap stocks, while hedging exposure to fluctuations in the US dollar/British pound exchange rate. Andrew Walsh, Head of UBS ETF Sales UK & Ireland, commented: “The launch of our S&P 500 hedged GBP ETF is particularly timely given recent events in the US and we would expect to see this product gain a fair amount of interest.”

The Source NASDAQ Biotech UCITS ETF (LON: SBIO) almost doubled in size after the US Presidential elections as Trump’s victory calmed investor fears of tough action on drug pricing and brought investors swarming back to the sector. The fund added $170m of inflows on Wednesday 9 November while strong performance of its constituents contributed to bringing the ETF’s total AUM to over $370m. Chris Mellor, Executive Director, at Source, commented: “Biotech companies stand to benefit not just from looser regulation but also from the potential of a tax holiday on cash repatriation, last seen in 2004.”

European ETF provider Source believes the US economy still has momentum – and equities may still outperform – despite several economic indicators “flashing red”. While investment and corporate profits have declined recently, the gradual pace of growth during this expansion may indicate the economy still has room to grow. Paul Jackson, Head of Research at Source, commented: “…the fact that wage and price inflation is not excessive, that the Fed is tightening only very slowly and that the yield curve is far from negative gives some hope that this cycle will get a second wind over the coming quarters. If so, stocks will go higher.”

European exchange-traded fund provider Amundi has launched a new ETF on the Hong Kong Stock Exchange which gives investors access to some of China’s largest A-Share companies. Tracking the FTSE China A50 Index, the Amundi FTSE China A50 Index ETF provides exposure to the market cap-weighted performance of the 50 largest companies listed on the Shanghai or Shenzhen stock exchanges. European-listed ETFs tracking the same index include funds from iShares, Deutsche Asset Management and Source.