ETF sales drive asset growth in October

Positive market movements in tandem with net new inflows led to increased exchange-traded fund assets under management in Europe in October, rising to €483.8 billion from €479.6 billion.

Lipper’s latest European ETF market review indicates €3 billion of the €4.2 billion rise was driven by net sales, with market performance contributing the remaining €1.2 billion. The vast majority of the new money was attracted by equity ETFs (€2.4 billion), although the best selling individual classification was Bond EUR Corporates (€0.8 billion), followed by Emerging Market Equities (€0.7 billion) and Equity Sector Financials (€0.6 billion).

At the other end of the spectrum, money market ETFs suffered the highest net outflows (-€0.3 billion), followed by commodity ETFs (-€0.1 billion), alternative Ucits ETFs (-€0.01 billion), and mixed-asset ETFs (-€0.001 billion). Overall, European ETFs have reaped inflows of €31.2 billion for the year so far.

 In provider terms, 83.3% of the new sales were accrued by iShares (€2.5 billion), and the firm maintained its position as the best selling ETF promoter in Europe, followed by Lyxor ETF and Amundi ETF with inflows of €0.9 billion each. The ten best selling funds gathered total net inflows of €3.4 billion for October.

 At the end of the month, equity ETFs held the majority of assets (€322.2 billion), followed by bond ETFs (€134.6 billion), commodity products (€16.3 billion), “other” funds (€7.0 billion), money market funds (€2.7 billion), alternative UCITS products (€0.5 billion), and mixed-asset funds (€0.4 billion).

©2016 funds europe

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