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European ETF industry AuM hits €1.2trn

ETFsThe European ETF industry’s assets under management rose to €1.2 trillion at the end of September 2021, according to Refinitiv’s European ETF Market report, while net inflows were €13 billion for the month. 

Equity ETFs posted €7.5 billion estimated net inflows, the highest in the European ETF industry for September. 

Meanwhile the best-selling Lipper global classification for September was Equity Global with €3.3 billion in estimated net inflows, followed by Equity US, with €3.1 billion and Bond EUR Corporates with €0.9 billion.

iShares was the best-selling ETF promoter in Europe for the month, seeing a €7.9 billion increase, ahead of Amundi ETF which saw €1.3 billion and Xtrackers, with €1.2 billion.

The 10 best-selling funds gathered total net inflows of €6.1 billion for September. The best-selling ETF for September was iShares Core S&P 500 UCITS ETF USD (Acc), which accounted for net inflows of €1.5 billion, followed by iShares Core MSCI World UCITS ETF USD which gathered total inflows of €1.1 billion and iShares Core € Corp Bond UCITS ETF EUR Dist which saw €0.7 billion in total net inflows.

Detlef Glow head of EMEA research at Refinitiv Lipper, said: “September 2021 marked the eighteenth consecutive month with inflows into ETFs after the outflows caused by the outbreak of the Covid-19 pandemic in March 2020.”

Glow added the inflows occurred in a “negative” and “volatile” market environment where investor sentiment was still impacted by the Covid-19 pandemic.

“The negative performance of the underlying markets led to decreasing assets under management (from €1.1 billion as of August 31, 2021, to €1.2 billion at the end of September) despite estimated net inflows,” he said.

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