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YTD 2011 global ETF industry growth closer to 5%

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The global ETF industry has grown by 3.5% in the first eleven months of 2011, according to Deutsche Bank. This falls on the low end of the firm’s 2011 growth estimate [between 5-10%] for the entire year.

Global ETF industry cash flows totalling to USD138.8 billion contributed 11.1% to the industry’s growth for the first eleven months of this year, while falling asset prices have contributed towards a decline of 7.6%. This resulted in a net growth of 3.5% for the 2011 so far.

Sovereign concerns, as well as the ‘ETF replication’ debate have had an overall negative impact on the entire European ETF industry. Cash flows for the first eleven months of 2011 [EUR17.6 billion] have been almost half when compared to those over the same period last year [EUR30.6]. The European ETF industry was the faster growing ETF region over 2010 [Europe: 33.3%, Asia: 30.6%, US: 26.8%], while it looks set to finish as the slowest growing region in 2011.

US ETF cash flows YTD totalled USD95.3 billion, registering at a level slightly above that for the same period last year [USD88.6 billion]. The Asian market gathered significantly higher cash flows [USD18.5 billion] for the first eleven months of 2011, as compared to the same period last year [USD10.7 billion].

Global ETF industry assets moderately receded from end of October levels reaching USD1.3 trillion [YTD + 3.5%], while the European ETF industry closed the month at EUR209.1 billion [YTD – 0.7%]. The US ETF industry grew by 4.1% to reach USD925.8 billion over the same period.

Global ETFs gathered flows of USD138.8 billion YTD, EUR17.6 billion of which went into the European market. The US ETF industry gathered USD95.3 billion while the Asian ETF market gathered USD18.5 billion.

For the month of November, the global ETF industry witnessed outflows of USD4.1 billion, while the European ETF industry experienced net outflows of EUR1.3 billion over the same period. The US market saw outflows totalling USD2.8 billion over the same period. The Asian market gathered USD501 million in the month of November 2011.

European ETFs comprised 2.7% of the continent’s mutual fund industry, yet ETF cash flow, EUR18.9 billion YTD up to September 2011, was over four times the corresponding unlisted fund flows [EUR4.5 billion]. European unlisted mutual funds registered outflows of close to EUR90 billion in the months of August and September.

 

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