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European equity ETF assets in decline, says Deutsche

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European exchange-based equity ETF turnover rose 2.3 per cent over the week ending 20 February, with daily turnover for the previous week at EUR901m, according to Deutsche Bank ETF rese

European exchange-based equity ETF turnover rose 2.3 per cent over the week ending 20 February, with daily turnover for the previous week at EUR901m, according to Deutsche Bank ETF researchers Aram Flores and Shan Lan.

European fixed income ETF turnover rose 8.8 per cent on the same period. Daily turnover for the previous week was EUR205m, with money market ETFs continuing to be the main focus.

In exchange-based bond ETFs, db x-trackers II Eonia TR Index ETF had the highest daily turnover of EUR45.2m. Among equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR51.9m. No new ETFs were issued in the previous week.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR312m accounting for 35 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR253m and 28 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR89m across the five listed products and accounting for 9.9 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 15.9 per cent of turnover trading EUR143m 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 29.4 per cent of total turnover. The Euronext NextTrack platform has 24.9 per cent market share. The LSE’s combined Milan and London market share is now 23.4 per cent.

Total European Equity related assets under management declined 7.2 per cent to EUR65.9bn last week. Assets under management for DJ Euro Stoxx 50 ETFs was EUR12.95bn accounting for 20 per cent of total European AUM. Fixed-income ETF assets remained almost stable at EUR32.5bn.

Overall, the largest ETF by assets was the money market-based db x-trackers II Eonia TR Index ETF with assets of EUR6.2bn. The largest equity-based ETF was the Lyxor ETF DJ Euro Stoxx 50 ETF with assets of EUR4.2bn.

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