Refinitiv : European ETF Market in November 2019

Refinitiv: November was another positive month for the European ETF industry as the promoters of ETFs in Europe enjoyed above average inflows in November….

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By Detlef Glow, Lipper’s head of EMEA research at Refinitiv

These led, in combination with the positive performance of the underlying markets, to an increase in assets under management in the European ETF industry from €809.3 bn as of October 31, 2019, to a new record high of €841.7 bn at the end of November.

The increase of €32.4 bn for November was driven by the performance of the underlying markets (+€17.0 bn), while estimated net inflows contributed €15.4 bn to the increase in assets under management.

It was not surprising equity funds (€576.5 bn) held the majority of assets, followed by bond funds (€232.1 bn), commodity products (€21.6 bn), alternative UCITS products (€6.7 bn), money market funds (€3.3 bn), mixed-assets funds (€1.5 bn), and “other” funds (€0.1 bn).

Graph : Market Share, Assets Under Management in the European ETF Segment by Asset Type, November 30, 2019

17-12-19 rEFINITIV etf

Source: Lipper from Refinitiv

Fund Flows by Asset Type

The European ETF industry enjoyed estimated net inflows for November (+€15.4 bn) which were way above the rolling 12-month average.

They brought that average up to €8.8 bn from €7.6 bn in October 2019.

The inflows in ETFs were driven by equity funds (+€11.3 bn), followed by bond ETFs (+€3.8 bn), commodity ETFs (+€0.3 bn), mixed-assets ETFs (+€0.03 bn), and money market ETFs (+€0.02 bn).

On the other side of the spectrum, alternative UCITS ETFs (-€0.03 bn) faced the highest estimated outflows for the month, bettered by “other” ETFs (-€0.005 bn).

This flow pattern drove the overall net flows to €88.7 bn for 2019.

Source: ETFWorld

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