Appetite for equity indices has driven assets in European ETFs up from €524 billion to €550 billion over the course of February, according to data released by Lipper.

In its monthly update, which collates European sales figures, the research and analysis company said demand for equity ETFs had propelled growth, with €6.1 billion of net new money entering these types of products.

This marks the fifth month in a row that equity ETFs have seen new money added. Meanwhile, bond ETFs added €2.5 billion, ‘other’ ETFs saw €0.4 billion of new money, commodity ETFs added €0.2 billion and money market ETFs gained €0.2 billion.

The increased money going into equity ETFs this month was centred on global equity ETFs, which added €1.5 billion over the month. Global equity remains the third most sought-after equity ETF type in the absolute numbers behind eurozone and US equity.

When taken together, global, eurozone, US and European equity, as well as Bond EUR Corporate ETFs, account for 42% of the entire assets in European ETFs. However, the latter class was the hardest hit over the month, with €2.1 billion of outflows.

When looking at assets on a promoter-by-promoter basis, the largest player is iShares, with 48% of the overall market at €264 billion in assets. This is ahead of Lyxor ETF (€55.5 billion) and db x-trackers (€55.2 billion), with Lyxor having jumped db x-trackers over the course of February.

Drilling down further into the figures, the three biggest-selling ETFs over the course of February were: Shares Edge MSCI USA Value Factor UCITS ETF; iShares J.P. Morgan $ EM Bond UCITS ETF USD; and the Amundi ETF Euro Stoxx 50 UCITS ETF DR - EUR (C).