European exchange-traded funds and exchange-traded products gathered USD8.7bn in net new assets (NNA) in October 2014, according to research released by ETFGI.
NNA year-to-date now stand at a record USD56.2bn. At the end of October 2014 the European ETF/ETP industry had 2,111 ETFs/ETPs, with 6,323 listings, assets of USD459bn, from 51 providers listed on 26 exchanges, according to preliminary data from ETFGI’s end October 2014 Global ETF and ETP industry insights report.
Year-to-date NNA flows reached record levels for the ETF/ETP industries in Japan with USD15.7bn, Europe with USD56.2bn, and globally with USD233.4bn. Assets invested in the US-listed ETF/ETP industry hit a new record high of USD 1.92trn.
“October was a challenging month with increasing macroeconomic concerns over deflation fears in Europe, the ECB’s stimulus program, Germany cutting GDP forecasts due to “geopolitical crisis”, dismal employment figures in France, 25 of around 130 European banks having reported to have failed the ECB’s ‘stress test’, and questions over the UK’s continued membership in the European Common Market. At the end of the month the markets reacted positively to the Bank of Japan’s announcement of new annual purchasing targets of JPY80trn in bonds and JPY3trn in ETFs. The S&P 500 reached a new record, 2,017, which is up 1.2 per cent for the month and 9.2 per cent for the year. Developed markets ended the month down two per cent while emerging markets gained two per cent,” says Deborah Fuhr, managing partner at ETFGI.
In October 2014 ETFs/ETPs saw net inflows of USD8.7bn. Equity ETFs/ETPs gathered the largest net inflows with USD5.2bn, followed by fixed income ETFs/ETPs with USD3.6bn, and commodity ETFs/ETPs which had net outflows of USD183m.
iShares gathered the largest net ETF/ETP inflows in October with USD4.5bn, followed by Vanguard with USD1.7bn and Lyxor AM with USD1.1bn net inflows. Year-to-date through the end of October iShares gathered the largest net ETF/ETP inflows with USD18.4bn, followed by Vanguard with USD8.4bn and Lyxor AM with USD6.2bn net inflows.
iShares is the largest ETF/ETP provider in terms of assets with USD213bn, reflecting 46.5 per cent market share; db x/db ETC is second with USD54bn and 11.8 per cent market share, followed by Lyxor AM with USD47bn and 10.3 per cent market share. The top three ETF/ETP providers, out of 51, account for 68.6 per cent of European ETF/ETP assets, while the remaining 48 providers each have less than five per cent market share.
