Refinitiv reports EUR23.2bn in European ETF inflows in December
Refinitiv’s Lipper team reports that ETF promoters in Europe experienced estimated net inflows of EUR23.2 billion for December, while assets under management in the European ETF industry (EUR992.6 billion) increased during December.
Equity ETFs (+EUR18.5 billion) posted the highest estimated net inflows in the European ETF industry for December, the firm says. The best-selling Lipper global classification for December was Equity US (+EUR4.7 billion), followed by Equity Global (+EUR4.3 billion) and Equity Emerging Markets Global (+EUR2.7 billion).
iShares was the best-selling ETF promoter in Europe for December (+EUR13.9 billion), ahead of Amundi ETF (+EUR2.3 billion) and Vanguard Group (+EUR1.9 billion), according to Refinitiv.
The 10 best-selling funds gathered total net inflows of EUR6.8 billion for December, and the best-selling ETF for December was iShares MSCI World Small Cap UCITS ETF USD Acc, which accounted for net inflows of EUR1.0 billion.
Detlef Glow, Lipper Head of EMEA Research at Refinitiv, says: “December 2020 was another positive month for the European ETF industry since promoters enjoyed inflows. These inflows occurred in a surprisingly positive market environment in which investor sentiment was impacted by the aftermath of the presidential election in the US, the increasing dynamics of the COVID-19 pandemic, and a possible hard Brexit.
“The positive performance of the underlying markets led in combination with the estimated net inflows to increasing assets under management (from EUR952.5 billion as of October 31, 2020, to EUR992.6 billion at the end of December). The increase of EUR40.0 billion for December was driven by estimated net sales (+EUR23.2 billion), while the performance of the underlying markets contributed EUR16.8 billion to the increase of the assets under management. It was not surprising equity funds (EUR676.0 billion) held the majority of assets, followed by bond funds (EUR271.3 billion), commodities products (EUR35.7 billion), alternative UCITS products (EUR5.0 billion), money market funds (EUR2.6 billion), mixed-assets funds (EUR1.8 billion), and “other” funds (EUR0.2 billion).”