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European equity ETF assets down five per cent in last week of February


European-listed exchange traded fund turnover rose by four per cent in the week ending 27 February, but equity ETFs lost five per cent of their total assets under management, according

European-listed exchange traded fund turnover rose by four per cent in the week ending 27 February, but equity ETFs lost five per cent of their total assets under management, according to the latest ETF liquidity report from Deutsche Bank researchers Aram Flores and Shan Lan.

Equity ETF turnover rose four per cent from the previous week, with daily turnover reaching EUR936m, while European fixed-income ETF turnover rose two per cent over the same period. Daily turnover for the week averaged EUR208m, with money-market ETFs remaining the main focus.

Among individual bond ETFs, db x-trackers II Eonia TR Index ETF had the highest daily turnover at EUR40.5m. Among equity ETFs, iShares Dax had the highest daily turnover with EUR53.7m.

Eighteen new ETFs were launched during the previous week, with EasyETF launching 16 new funds and BGI cross-listing two existing funds.

European style ETFs, led by short and leveraged products, kept their position as the leading product area with total turnover of EUR325m, accounting for 35 per cent of total turnover, followed by European regional ETFs with total turnover of EUR259m, 28 per cent of the total.

The Dax ETFs remain the dominant country products with total average daily volume of EUR93m across the five listed products and accounting for 9.9 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 15.3 per cent of turnover trading with an average of EUR144m per day, with liquidity split across 12 ETFs and 35 different listings on nine exchanges.

The Deutsche Börse XTF platform had the largest market share with 29.9 per cent of total turnover. The Euronext NextTrack platform had 25 per cent market share, while the London Stock Exchange’s combined Italian and London market share was 23.5 per cent.

Total European equity-related ETF assets under management declined five per cent to EUR62.6bn during the last week of February. The assets of the DJ Euro Stoxx 50 ETFs were EUR12.2bn and accounted for 19 per cent of the European total. Fixed-income ETF assets remained almost stable at EUR32.8bn.

Overall, the largest ETF by assets under management was the money-market based db x-trackers II Eonia TR Index ETF with assets of EUR6.5bn. The largest equity-based ETF by assets was the Lyxor ETF DJ Euro Stoxx 50 ETF with EUR4.0bn.

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