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LSEG Lipper reports equity ETFs on top for May 2024

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LSEG Lipper writes that ETF promoters in Europe enjoyed estimated net inflows (+EUR25.1 billion) for May 2024.

Assets under management in the European ETF industry increased over the course of May to EUR1,755.7 billion, the firm says. Equity ETFs (+EUR17.8 billion) posted the highest estimated net inflows in the European ETF industry for May.

The best-selling Lipper global classification for May was Equity Global (+EUR6.0 billion), followed by Equity US (+EUR4.1 billion) and Money Market USD (+EUR1.2 billion).

iShares was the best-selling ETF promoter in Europe for May (+EUR8.4 billion), ahead of Xtrackers (+EUR4.2 billion) and SPDR (+EUR3.0 billion).

The 10 best-selling ETFs gathered estimated net inflows of EUR7.2 billion for May.

The best-selling ETF for May, SPDR S&P 500 UCITS ETF Dist, enjoyed estimated net inflows of EUR1.4 billion, the firm says.

Detlef Glow, Head of EMEA Research at LSEG Lipper comments: “We witnessed only low inflows into bond ETFs investing in euro bonds (+EUR0.5 billion overall) despite the clear announcement of the ECB to lower the interest rates in the Eurozone in June. Nevertheless, those investors who bought euro bond ETFs are aiming to take profit from the decreasing interest rates as Bond EMU Government was the best-selling euro bond classification with estimated net inflows of EUR0.6 billion, followed by Bond EMU Government Long Term (+EUR0.2 billion). In addition, it looks like European investors were selling euro corporate bonds (Bond EUR Corporates -EUR0.4 billion/Bond Global Corporates EUR -EUR0.3 billion), while buying into Bond EUR High Yield (+EUR0.2 billion).

“Conversely, ETFs investing in US-dollar denominated bonds enjoyed overall estimated net inflows of EUR3.6 billion despite an unclear situation when it comes to any possible reductions in interest rates over the course of 2024. These flows may indicate that European investors want to take profit from a possibly stronger US dollar compared to the euro and the generally higher interest rates for USD bonds”.

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