European ETF promoters enjoyed net inflows in October. But at just EUR 0.7 billion for the month, they couldn’t offset the negative performance of the underlying markets, according to the latest European ETF Market Review from Lipper at Refinitiv.
As a result, total assets under management in the European ETF industry decreased by EUR22.4 billion from EUR679.6 billion as of 30 September, 2018, to EUR657.1 billion at the end of October.
“With regard to the overall number of products, it was not surprising that equity funds (EUR466.5 billion) held the majority of the assets, followed by bond funds (EUR160.7 billion), commodity products (EUR18.9 billion), “other” funds (EUR5.6 billion), money market funds (EUR3.9 billion), mixed-asset funds (EUR1.0 billion), and alternative UCITS products (EUR0.5 billion),” says Detlef Glow, Head of EMEA research at Lipper and author of the report. “Money market ETFs (+EUR0.5 billion) posted for October the highest net inflows of the European ETF industry.
“The best-selling Lipper global classification for October was Equity US (+EUR1.5 billion), followed by Bond USD (+EUR0.6 billion) and Equity Eurozone (+EUR0.6 billion).
“iShares was the best-selling ETF promoter in Europe for October (+EUR0.9 billion), well ahead of Lyxor ETF (+EUR0.6 billion) and VanEck (+EUR0.4 billion).
“The ten best selling funds meanwhile, gathered total net inflows of EUR3.0 billion for October, while the best selling ETF for the month, the iShares Core MSCI World UCITS ETF USD (Acc), accounted for net inflows of EUR0.5 billion or 60.79 per cent of the overall net inflows.”
