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European ETF AUM rose 17.05 per cent in 2008, says Lipper

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Assets under management in the pan-European exchange traded funds segment rose 17.05 per cent to EUR108.42bn in 2008, according to a report from Lipper and Thomson Reuters.

Assets under management in the pan-European exchange traded funds segment rose 17.05 per cent to EUR108.42bn in 2008, according to a report from Lipper and Thomson Reuters.

The second quarter of 2008 was the first time AUM in the pan-European ETF segment was higher than EUR100bn and it has stayed above this level since.

The growth was throughout all asset classes, with the exception of real estate-linked equities, which declined 44.24 per cent to EUR0.67bn.

Despite the falling markets, equities – the largest asset class – showed a growth rate of 0.07 per cent for the year 2008.

ETFs investing in ‘other’ asset classes showed the highest growth rate (+130.16 per cent) in this period. The report says this development was not surprising, since there are ETFs replicating short strategies in the major indices as well as other-strategy ETFs within this classification.

The monthly average turnover in euros was up 20.88 per cent over the year, from EUR25.76bn in fourth quarter 2007 to EUR31.14bn in fourth quarter 2008.

With an average quarterly turnover of EUR32.74bn the turnover volume showed an all-time high in Q1 2008. The growth rate of 17.05 per cent in AUM and the growing turnover showed that the ETF segment is still growing at a fast pace.

Five of the ten largest equity ETFs traded on the European exchanges were funds managed by Barclays Global Investors (iShares), while State Street runs Diamonds Trust – the largest single ETF registered for sale in Europe.

Three of the ten largest funds were funds having the same investment objective: tracking the DJ Euro Stoxx 50, and two of these were funds run by iShares.

ETFlab Dax was one of the ten largest funds, despite it only launching in March 2008.

In the bonds segment Barclays Global Investors managed five and Lyxor managed four of the ten largest bond funds.

The largest single bond ETF registered for sale in Europe was db x-trackers II Eonia Total Return Index ETF 1C, managed by db x-trackers.

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