More than $40bn of equity ETP flows last month pushed 2014 asset gathering to an annual record level, BlackRock has revealed in a global ETP landscape report for November.

Global ETPs attracted $40.1bn in November to lift year-to-date asset gathering into record territory at $267.9bn, with investors returning to equities after October’s stock market correction boosted fixed income.

US equities brought in $36.1bn, concentrated in large cap funds, as the outlook for the US economy improved and slowing global growth led to accommodative central bank activity in other regions.

Japanese equity ETPs listed in the US and Europe accumulated $4.1bn in response to announcements of expanded stimulus and GPIF equity purchases, though Japan-listed funds saw offsetting outflows following a significant stock rally.

The start of ECB bond purchases and commitment to further action should inflation fail to adjust upward, helped European fixed income inflows reach $2bn, predominantly in investment grade corporate debt.

China’s surprise interest rate cut in a bid to support economic growth was welcomed by the market and brought an uptick in flows for US and European-listed ETPs, though the outflow streak for China-listed funds extended into a third month.

Ursula Marchioni, head of ETP research EMEA at iShares said, “This is now the best year in the ETP industry’s history, surpassing the previous record of $262.7bn recorded in 2012. US equity exposures accounted for almost all inflows this month, but US and European listed Japanese equity ETPs also gathered strong flows.”

“The European ETP industry has seen year-to-date inflows topping $60bn, making Europe the region with the highest organic growth rate for the year. Despite weakness in the European economy, investors have increasingly been utilising ETPs as their investment vehicle of choice. Encouraged by the ECB’s dovish monetary policy, Europe-listed fixed income ETPs have seen over $25bn of inflows this year.”