Lyxor Asset Management, Société Générale’s wholly-owned subsidiary, says it has retained its position as manager of the largest equity ETF in Europe, with it
Lyxor Asset Management, Société Générale’s wholly-owned subsidiary, says it has retained its position as manager of the largest equity ETF in Europe, with its Lyxor ETF DJ Euro Stoxx 50 closing 2008 with EUR5.147bn in assets under management.
Over the course of 2008, the ETF gathered EUR1.5bn in net new assets. The fund is listed on eight exchanges and trading platforms.
Equity ETFs still represent 66.47 per cent of the total AUM in Europe, despite the significant correction in the global equity markets (-42.08 per cent year to year for the MSCI World Index, -44.37 per cent for the Eurostoxx50 in 2008). During 2008, equity ETFs continued to gather assets, benefiting from an increase in passive equity allocations.
Lyxor says that throughout 2008 investors were attracted to ETFs because of their cost efficiency, transparency, high liquidity and intra-day trading. Investors have been increasingly selecting index-tracking investments because the correlation between asset classes and their overall volatility are at high levels, making stock-picking extremely difficult.