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Refinitiv Lipper comments on record inflows into European ETFs over 2021


Refinitiv Lipper reports that the European ETF industry hit new record assets under management and flows in its review of the industry over 2021. 

ETF promoters in Europe experienced estimated net inflows of EUR161.0 billion for 2021 and assets under management in the European ETF industry stood at EUR1,330.2 billion) at the end of December 2021. 

Some 6.18 per cent of the assets under management were invested in ESG-related ETFs and equity ETFs (+EUR114.3 billion) posted the highest estimated net inflows in the European ETF industry for 2021. 

The best-selling Lipper global classification for March was Equity Global (+EUR34.8 billion), followed by Equity US (+EUR34.8 billion) and Equity Emerging Markets Global (+EUR8.1 billion). 

iShares was the best-selling ETF promoter in Europe for 2021 (+EUR69.4 billion), ahead of Xtrackers (+EUR180 billion) and Amundi ETF (+EUR11.3 billion). 

Refinitiv Lipper notes that only 11 of the 48 ETF promoters in Europe offered ESG-related products.

Detlef Glow, Head of EMEA Research at Refinitiv Lipper, says: “European investors were generally in a risk-on mode over the course of 2021 which could be seen by the fact that equity funds were the best-selling asset type overall. In fact, 2021 was a superb year for the European fund industry as the promoters of mutual funds and ETFs enjoyed record inflows (EUR724.1 billion) over the course of 2021. These inflows come despite the unclear economic situation caused by the ongoing COVID-19 pandemic, disruptions in the delivery chains of some industry sectors, and steadily rising inflation. 

“That said, it is remarkable that 2021 was the second year in a row during a global crisis in which the European fund industry enjoyed record inflows. These strong inflows are somewhat surprising since companies and investors had to weather the uncertainty and impacts caused by the COVID-19 pandemic, which should have led under normal circumstances to more cautious behaviour from investors. Therefore, it can be assumed that the massive financial and fiscal actions taken by governments and central banks around the globe have boosted the confidence of investors to stay in a risk-on mode. Therefore, it was not surprising that the European ETF industry hit new records in this environment.”

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