Refinitiv : European ETF Market, June 2021

Refinitiv: June 2021 marked the fifteenth consecutive month with inflows into ETFs after the outflows caused by the outbreak of the COVID-19 pandemic in March 2020.

Sign up to our free newsletters

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

These inflows occurred in a positive but volatile market environment in which investor sentiment was still impacted by the dynamics of the COVID-19 pandemic and the resulting actions taken by central banks and governments in Europe and other parts of the world.

The positive performance of the underlying markets led in combination with the estimated net inflows to increasing assets under management (from €1,133.0 bn as of May 31, 2021, to €1,177.8 bn at the end of June).

The increase of €44.8 bn for June was driven by the performance of the underlying markets (+€30.5 bn), while the estimated net sales contributed €14.3 bn to the increase of assets under management.

It was not surprising equity funds (€851.4 bn) held the majority of assets, followed by bond funds (€285.9 bn), commodities products (€29.3 bn), alternative UCITS products (€6.3 bn), money market funds (€2.3 bn), mixed-assets funds (€2.5 bn), and “other” funds (€0.1 bn).

Graph 1: Market Share, Assets Under Management in the European ETF Segment by Asset Type, June 30, 2021


Source: Refinitiv Lipper

Fund Flows by Asset Type

The European ETF industry enjoyed healthy estimated net inflows for June (+€14.3 bn) which were above the rolling 12-month average (€9.8 bn).

The inflows in the European ETF industry for June were driven by equity ETFs (+€11.9 bn), followed by bond ETFs (+€2.2 bn), alternative UCITS ETFs (+€0.3 bn), mixed-assets ETFs (+€0.1 bn), and commodities ETFs (+€0.01 bn). Meanwhile, “other” ETFs (-€0.0003 bn) and mixed-assets ETFs (+€0.2 bn) were the asset types which showed outflows for the month.

This flow pattern drove the estimated overall net inflows to €14.3 bn for the month and €92.5 bn for 2021 so far.

Graph 2: Estimated Net Sales by Asset Type, June 2021 (Euro Millions)

19072021 1

Source: Refinitiv Lipper

Source: ETFWorld

Related Articles

Tradeweb ETF Update – October 2021

Editorial Staff

Refinitiv : European ETF Market, September 2021

Editorial Staff

ETFGI report on ETFs and ETPs in Europe – September 2021

Editorial Staff