Total assets under management in European thematics reduced slightly in April and stand at USD309 billion as of the end of the month, WisdomTree writes. ETFs’ market share remains stable at 13.0 per cent.
April saw USD948 million taken out of thematics in Europe, primarily driven by the outflows in open-ended funds at USD890 million. Despite the surging interest in several themes propelled by the popularity of ChatGPT, investors in thematics generally remained cautious amidst the increasing economic uncertainty.
Most of the themes underperformed the MSCI ACWI in April. In contrast to the start of the year, the outperforming themes were mostly represented by the “Demographic & Social Shifts” cluster, while technology-focused themes saw some correction, the firm says.