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European equity ETF AUM down 2.6 per cent


Assets under management of European equity related exchange-traded funds declined by 2.6 per cent to EUR101.6bn during the week ending 30 November, according to Deutsche Bank researchers Shan Lan and Aram Flores.

AUM for DJ Euro Stoxx 50 ETFs was EUR19.7bn accounting for 19.4 per cent of total European AUM. Fixed income ETF AUM declined by 2.5 per cent to EUR33.7bn.

Overall, the largest ETF by AUM was Lyxor ETF DJ Euro Stoxx 50, an equity based ETF with AUM of EUR4.9bn. The largest fixed income ETF was the iShares EUR Corporate Bond with AUM of EUR3.2bn.

Exchange based equity ETF turnover declined by 1.6 per cent to EUR1.4bn. European fixed income ETF turnover remained at about the same level at EUR177m, with money market ETFs continuing to be the main focus.

In exchange based bond ETFs, iShares EUR Corporate Bond has the highest daily turnover of EUR13.97m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR69.76m.

There were 16 new listings during the week. All new listings were issued by Credit Suisse AM on Deutsche Borse and included eight cross listed equity ETFs and eight new cross listed bond ETFs.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR445m accounting for 31.97 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR372m with 26.71 per cent of total turnover. The Dax ETFs remain the dominant country products with total average daily volume of EUR192m across the 14 listed products and accounting for 13.8 per cent of all equity ETF volume.

DJ Euro Stoxx 50 ETFs accounted for 13.4 per cent of turnover trading EUR186m per day with liquidity split across 16 ETFs and 43 different listings on nine exchanges.

The Deutsche Borse XTF platform has the largest market share with 39.0 per cent of total turnover. The Euronext NextTrack platform has 21.5 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.1 per cent.

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