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European equity ETF AUM up five per cent


Assets under management of European equity related exchange-traded funds rose by five per cent to EUR106.7bn during the week ending 7 December, according to Deutsche Bank researchers Shan Lan and Aram Flores.

AUM for DJ Euro Stoxx 50 ETFs was EUR21.1bn accounting for 19.8 per cent of total European AUM. Fixed income ETF AUM remained at about the same level at EUR33.9bn.

Overall, the largest ETF by AUM was Lyxor ETF DJ Euro Stoxx 50, an equity based ETF, with AUM of EUR5.1bn. The largest fixed income ETF by AUM was the iShares EUR Corporate Bond with AUM of EUR3.2bn.

Exchange based equity ETF turnover declined by 8.7 per cent to EUR1.3bn. European fixed income ETF turnover declined by 2.6 per cent to EUR172.1m.

In exchange based bond ETFs, iShares EUR Corporate Bond has the highest daily turnover of EUR13.20m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR59.96m.

There were four new listings during the week. Xact Fonder issued two new leveraged ETFs on Stockholmborsen. UBS and Source listed one new ETF each on Deutsche Borse. All new listings were primary listings except for the ETF issued by UBS.

European style ETFs, led by short and leveraged products, kept its position as the leading product area with total turnover of EUR395m accounting for 31.03 per cent of total ETF turnover, followed by European regional ETFs with total turnover of EUR344m with 27.03 per cent of total turnover. The Dax ETFs remain the dominant country products with total average daily volume of EUR167m across the 14 listed products and accounting for 13.1 per cent of all equity ETF volume.

DJ Euro Stoxx 50 ETFs accounted for 12.7 per cent of turnover trading EUR162m 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 38.0 per cent of total turnover. The Euronext NextTrack platform has 21.1 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.7 per cent.

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