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Robotics-focused exchange traded funds have seen “massive” outflows in recent weeks as one of the hottest trends of the past six months threatens to implode.
The sharp reversal is starkest in Europe, where robotics and automation-themed ETFs chalked up inflows of $753m between September 2020 and February, according to data from Global X, a New York-based ETF manager.
However, a record $506m of this money was pulled out of the market in March alone, cutting assets 8.5 per cent to $5.4bn.
The US robotics segment also witnessed “significant” outflows of $363m, pulling sector-wide ETF assets down 6.1 per cent to $8.9bn, according to Global X.
All the leading US ETFs in the sector saw outflows, with the $3.3bn Ark Autonomous Technology & Robotics ETF (ARKQ), which…