Amundi claims fastest growth in European ETFs

Amundi has followed BlackRock by boasting of a record year for inflows into its ETF products.

The firm said this week that it had seen a 50% organic growth in net new assets within its Amundi ETF business in 2017 and that this growth had been twice as fast as the rest of the European market.

Net flows of over €10 billion where partly driven by growing retail demand owing to changing fund distribution patterns brought about under the MiFID II capital market reforms.

MiFID II, or the Markets in Financial Instruments Directive II, is anticipated to increase ETF retail sales after changing the rules around how commissions are paid to fund distributors.

Amundi ETF assets under management stood at €38 billion at the end of the year.

However, according to data from Thomson Reuters Lipper, Amundi actually slipped one place in a table of the top 5 ETF providers in Europe’s by net sales last year compared to the previous year as Xtrackers and Lyxor stormed into second and third place, respectively.

Amundi’s figures come shortly after BlackRock said that its iShares ETF brand had seen a record level of international inflows last year.

Industry data from State Street said the European ETFs saw a total of $110 billion (or €91.8 billion at December 30, 2017, rates) of inflows last year, with the majority of $73 billion going to equity products.

European broad equity indices led the way as investors returned to Europe and the Eurozone in particular, State Street said.

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