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European equity ETF trading rises as fixed-income ETFs slip, says Deutsche


European-listed equity exchange traded fund turnover rose 4.1 per cent during the week ending 6 March, with daily turnover averaging EUR974m, according to the latest report from Deutsch

European-listed equity exchange traded fund turnover rose 4.1 per cent during the week ending 6 March, with daily turnover averaging EUR974m, according to the latest report from Deutsche Bank researchers Aram Flores and Shan Lan.

European fixed income ETF turnover declined 5.4 per cent from the previous week. Daily turnover for the week ending 6 March was EUR196m, with money-market ETFs continuing to be the main focus.

Among bond ETFs, db x-trackers II Eonia TR Index ETF has the highest daily turnover of EUR36.8m. Among the Equity ETFs, iShares DAX has the highest daily turnover of EUR58.6m.

Thirteen new ETFs were launched during the week. Casam launched 11 of these funds offering a broad range of regional, style, sector and country products listed on NYSE Euronext Paris. ABG Sundal Collier AM listed two new commodity ETFs on Oslo Bors.

European Style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR344m accounting for 35 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR256m with 26 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR98m across the five listed products and accounting for ten per cent of all Equity ETF volume.

Euro Stoxx 50 ETFs accounted for 14.6 per cent of turnover, trading EUR142m per day with liquidity split across twelve ETFs and 35 different listings on nine exchanges.

The Deutsche Börse XTF platform has the largest market share with 31.6 per cent of total turnover. The Euronext NextTrack platform has 24.4 per cent market share, while the London Stock Exchange’s combined market share in Italy and the UK is 24 per cent.

Total European equity related assets under management declined 5.4 per cent to EUR59.2bn last week. The assets of DJ Euro Stoxx 50 ETFs totalled EUR11.6bn, accounting for 19.6 per cent of total European assets under management. Fixed-income ETF assets under management remained almost stable at EUR32.9bn.

Overall, the largest ETF by assets under management was the money market-based db x-trackers II Eonia TR Index ETF, with assets of EUR6.7bn. The largest equity-based ETF was the Lyxor ETF DJ Euro Stoxx 50 ETF with assets of EUR3.8bn.

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