Markets drag on ETF assets

Europe’s ETF assets under management (AUM) in February increased slightly after €10.5 billion of net sales – but falling markets impeded further growth.

A €9.4 billion loss in market performance saw AUM rise by €1.1 billion in February, which contrasts with a near €20 billion AUM increase registered in January, partly due to a market lift of €7.8 billion.

AUM at the end of February landed at €648.3 billion, according to Thomson Reuters Lipper data.

Equity funds saw the highest inflows at €8.1 billion in February, compared to bond funds with €1.3 billion of net inflows.

Thomson Reuters Lipper said ETFs saw €23.6 billion of inflows between the beginning of the year until the end of February.

iShares had the largest sales in January, at €3.7 billion, putting it just ahead of Amundi ETF, which had €3.5 billion of net sales.

However, Amundi had the best-selling ETF. Its Amundi Index MSCI EMU ETF had €1.4 billion of net flows, nearly 13% of the February industry total.

Competition between Amundi and BlackRock – which owns iShares – is heating up since Amundi pipped BlackRock in January for wider fund flows.

Both firms said they had seen record levels of ETF sales in 2017.

©2018 funds europe

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