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European change traded funds loved one other sturdy month of inflows in November, placing the business on the right track for no less than its second-best gross sales 12 months in historical past, in keeping with LSEG Lipper.
ETF promoters in Europe gathered €17.8bn of internet new cash final month, far above the sector’s rolling 12-month common of €12bn, the analysis firm discovered.
The flows image in November was pushed by fairness ETFs, which garnered €11.9bn of internet inflows, whereas bond merchandise achieved €5.3bn of internet gross sales. Cash market and blended asset ETFs attracted €1.4bn and €0.04bn, respectively.
Flows into various and commodities ETFs have been adverse throughout the month, at €0.1bn and €0.7bn, respectively, in keeping with LSEG Lipper.
Detlef Glow, head of Europe, Center East and Africa analysis at LSEG Lipper, stated November was “one other month with sturdy inflows into ETFs”.
“General, the inflows for the 12 months thus far appear like the European ETF business will no less than witness the second-best 12 months in historical past, however there may be additionally a small probability that we could witness the 12 months with the very best inflows in ETFs in historical past,” he added.
ETFs loved inflows of €119.7bn over the course of the primary 10 months of 2023, whereas mutual funds confronted estimated internet outflows of €61bn.
“The success of ETFs is just not mirrored within the total fund business, as energetic managed mutual funds witness excessive outflows, and the hole is about to extend additional,” stated Glow.
BlackRock’s ETF arm iShares was the highest vendor of such merchandise throughout the month, attracting €8.6bn of internet new cash. Amundi and Vanguard ranked second and third respectively, with inflows of €2.1bn and €1.8bn.
*Ignites Europe is a information service revealed by FT Specialist for professionals working within the asset administration business. Trials and subscriptions can be found at igniteseurope.com.