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ETF November inflows surge past €14 billion

inflows, €14Net ETF inflows reached €14.3 billion in November, according to the latest data by Refinitiv.

Committed by European investors, this was more than double the rolling 12-month average inflow of €7.1 billion.

During November, assets under management in the European ETF industry increased from €12.5 trillion to €13.1 trillion.

The €5.9 billion increase in assets under management occurred due to both net inflows and the performance of underlying markets, according to Refinitiv.

Detlef Glow, head of EMEA research at Refinitiv Lipper, said: “The European ETF industry enjoyed inflows over the course of November 2022. These inflows occurred in a positive market environment.

“Nevertheless, concerns about high inflation rates, increasing interest rates, market turmoil in UK government bonds, geopolitical tensions, and disrupted delivery chains caused by the still ongoing COVID-19 pandemic were still looming.”

With €8.4 billion of inflows, bond ETFs contributed the highest estimated net inflows into the European ETF industry throughout November.

Equity ETFs were the second most popular, as the asset class recorded estimated net inflows of €5.9 billion during the month.

However, equity funds remained the most heavily weighted asset class within the overall European ETF industry. Equity funds worth €943.2 billion make up 72% of the overall industry.

The preference for bond ETFs over their equity counterparts was also found in recent research by BlackRock iShares.

On a global basis, investors were found to have returned to fixed income products after months of outflows with this cumulative figure slowing from -$21 billion to -$5 billion for the year.

In its own research, Refinitiv found iShares was the most popular ETF brand among European investors in November.

iShares recorded net inflows of €9 billion, which made it the best-selling ETF provider in Europe in November. iShares ranked ahead of UBS ETFs and Xtrackers, which recorded inflows of €3.2 billion and €1.5 billion, respectively.

Refinitiv’s research revealed the flows of the 10 largest providers accounted for estimated gross inflows of €15.7 billion.

However, 15 other providers reported net outflows of €1.6 billion over the course of the month. 

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