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European ETFs see record outflows in March

ETF_outflows_coronavirusEuropean ETFs saw record outflows in March, as well as a sharp fall in assets under management (AuM), according to data from Morningstar.

Equity and bond ETFs recorded net outflows of €13 billion each throughout the month, while total AuM fell 13% to €781 billion – levels last seen in June 2019. 

Morningstar said there was evidence of a rebound in late March as investors found “solace” in stimulus measures. 

Commodities attracted €3 billion of inflows, with gold proving again to be a haven during stressed times.

Jose Garcia-Zarate, associate director, passive strategies, said: “We haven’t seen figures like these even in the darkest days of the global financial crisis of 2008 or during the height of the eurozone debt crisis.”

“To put this in context, the previous net outflows high amounted to €8.3 billion, which was in August 2019 when weak economic indicators and a flare-up in the trade tensions between the U.S. and China sent jitters through global equity markets.”

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