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European equity ETF assets slipped by two per cent last week


Exchanged based equity ETF turnover stayed around the same levels on the previous week, according to Deutsche Bank analysts.

Exchanged based equity ETF turnover stayed around the same levels on the previous week, according to Deutsche Bank analysts.

Turnover rose 0.7 per cent with total monthly average daily turnover of EUR1.041bn.

European fixed income ETF turnover was EUR211m, almost replicating the previous week, with money-market ETFs continuing to be the main focus.

Thirteen new ETFs were launched during the previous week.

Crédit Agricole Structured Asset Management launched ten new country and sector funds, Lyxor launched two new style ETFs based on the Dutch AEX index, and db x-trackers launched a style-asset allocation product.

Their ETFs are listed on Euronext Paris, Euronext Amsterdam and Deutsche Börse respectively.

European style ETFs, led by short and leveraged products, kept their position as the leading product area with total turnover of EUR318m, accounting for 30.5 per cent of total ETF turnover, followed by European country ETFs with total turnover of EUR307m and 29.5 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR124m across the five listed products and accounting for 12 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 17.2 per cent of turnover trading EUR179m per day, with liquidity split across twelve ETFs and 35 separate listings on nine exchanges.

The Deutsche Borse XTF platform has the largest market share with 34.9 per cent of total turnover. The Euronext NextTrack platform has 27.2 per cent market share with leading market share on style products. The LSE’s combined Italian Exchange and London market share is now 18.2 per cent.

Total European Equity related assets under management declined two per cent to EUR67.3bn.

Assets for DJ Euro Stoxx 50 ETFs totalled EUR14.9bn, accounting for 22 per cent of total European assets under management.

Fixed Income ETF assets rose by three per cent to EUR27.7bn.

Overall, the largest ETF by assets was the money-market based db x-trackers II Eonia TR Index ETF with EUR5.4bn (all share classes combined).

The largest equity based ETF by assets was the Lyxor ETF DJ Euro Stoxx 50 ETF with EUR5.3bn.

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