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European ETF market grew by 6.49 per cent in 2008, says Lyxor

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The European exchange-traded fund market grew by 6.49 per cent during 2008 to reach EUR91.23bn in assets under management, according to Société Générale’s Ly

The European exchange-traded fund market grew by 6.49 per cent during 2008 to reach EUR91.23bn in assets under management, according to Société Générale’s Lyxor Asset Management subsidiary.

Last year, Lyxor Asset Management saw its European ETF assets increase by 7.56 per cent to EUR23.6bn.

Lyxor increased the number of shares outstanding in its ETFs by 57.81 per cent in 2008, which more than offset the decline in global equity prices over the same period.

Net new inflows were worth EUR11.58bn, 306 per cent higher than in 2007.

Lyxor says that at the end of 2008, there were 30 issuers actively involved in the European ETF market, accounting for 1,553 ETFs, with 182 listed on the London Stock Exchange.

The volume of trading saw a minor fall during the first half of 2008 on various European stock exchanges, but the European ETF market experienced a revival of activity from July (22 per cent higher than in June) and a real surge from September with volumes 38 per cent higher than the same month in 2007.

Equity ETFs represent 66.47 per cent of total ETF assets in Europe, and the largest equity ETF in Europe is Lyxor’s ETF DJ Euro Stoxx 50 which had EUR5.15bn in assets under management at the end of 2008 after gathering EUR1.5bn in net new assets during the year.

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