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Brexit: what ETF investors did next

European investors ditched equity exchange-traded funds (ETFs) that invest in Europe, Japan and emerging markets in June – but still placed a net positive sum in equity markets.

Their largest equity allocations, by descending order of size, went to theme/sector ETFs, followed by North America and World markets.

They also increased exposure to Eurozone markets, placing €155 million into the region.

Data from ETF firm Amundi – which covers all ETF providers for the month ending June 30 and potentially offers an insight into how investors reacted to the UK’s Brexit vote – shows European ETF users ploughed a net €2.46 billion into equity products, compared to €1.43 billion into fixed income.

Precise figures for net equity inflows were:

  •  Themes/sectors – €2,155m

  • Nth America – €833m

  • World – €487m

  • Eurozone – €155m

US and Asian-based investors triggered net outflows from Eurozone ETFs. US money went mainly into world, emerging market and North America ETFs.

Asia made a large allocation (€3.70 billion) to Japan equities.

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