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European equity ETF turnover grows, says Deutsche report


Exchanged based equity ETF turnover rose 4.3 per cent on the previous week, according to a report by Deutsche.

Exchanged based equity ETF turnover rose 4.3 per cent on the previous week, according to a report by Deutsche.

Daily turnover for the previous week was EUR930m.

European fixed income ETF turnover rose 6.8 per cent on the same period. Daily turnover for the previous week was EUR201m, with money market ETFs continuing to be the main focus.

In exchange based bond ETFs, Db x-trackers II Eonia TR Index ETF has the highest daily turnover of EUR48.95m. Among the Equity ETFs, iShares FTSE100 has the highest daily turnover of EUR53.01m.

Two new ETFs were launched on the previous week. PowerShares launched one regional ETF listed on NYSE Euronext Paris and db x-trackers launched the first Global Sovereign Debt linked ETF on Deutsche Borse.

The report, by Aram Flores and Shan lan, also found that European-style ETFs, led by short and leveraged products, kept their position as the leading product area with total turnover of EUR307m accounting for 33 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR271m with 29.1 per cent of total turnover.

The DAX ETFs remain the dominant country products with total average daily volume of EUR92m across the five listed products and accounting for 9.9 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 18.1 per cent of turnover trading EUR168m per day with liquidity split across 12 ETFs and 35 different listings on nine exchanges.

The Deutsche Borse XTF platform has the largest market share with 31.1 per cent of total turnover. The Euronext NextTrack platform has 25 per cent market share. The LSE’s combined Italian Exchange and London market share is now 22.6 per cent.

According to the report, total European equity related assets under management rose 3.2 per cent to EUR70bn during last week. AUM for DJ Euro Stoxx 50 ETFs was EUR14.3bn accounting for 20 per cent of total European AUM. Fixed Income ETF AUM rose 6.3 per cent to EUR33.3bn, keeping a steep upward trend.

Overall, the largest ETF by AUM was the money market based db x-trackers II Eonia TR Index ETF with AUM of EUR6.3bn.

The largest equity based ETF by AUM was the Lyxor ETF DJ Euro Stoxx 50 ETF with AUM of EUR4.8bn.

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