Refinitiv Lipper has revealed that ETF promoters in Europe experienced in July the first net outflows (-EUR 0.4 billion) since March 2020.
The firm reports that assets under management in the European ETF industry increased over the course of July to EUR 1,317.0 billion, with bond ETFs (+EUR 4.6 billion) posting the highest estimated net inflows in the European ETF industry for July.
The best-selling Lipper global classification for July was Bond USD Government (+EUR 2.0 billion), followed by Bond EMU Government (+EUR1.0 billion) and Bond EUR (+EUR 0.9 billion).
SPDR was the best-selling ETF promoter in Europe for July (+EUR 0.7 billion), ahead of BNP Paribas (+EUR 0.6 billion) and Vanguard (+EUR0.6 billion). The 10 best-selling funds gathered estimated net inflows of EUR 5.9 billion for July.
The best-selling ETF for July, Xtrackers II ESG EUR Corporate Bond UCITS ETF 1D, enjoyed estimated net inflows of EUR 0.9 billion.
Detlef Glow, Head of EMEA Research at Refinitiv Lipper, comments: “July 2022 was the first negative month for the European ETF industry since March 2020 as promoters faced slight estimated outflows. These outflows occurred in a positive and volatile market environment in which investor sentiment was impacted by high inflation rates, increasing interest rates, geopolitical tensions, and disrupted delivery chains caused by the still ongoing COVID-19 pandemic in Europe and other parts of the world.”