The appetite for equity ETFs has helped propel the level of assets in Europe’s ETFs industry to further rise on a month-to-month basis, industry sales data has shown.
According to the latest Lipper report, which covers net sales in the region for May, the assets in the sector sat at €578.1 billion for May, which is up from €570.6 billion in the April data.
Propelling this increased push was the continued interest in equity ETFs, which experienced an eighth consecutive month of inflows to sit at €6.2 billion for May.
Digging deeper into this, the best-selling individual asset classes were equity eurozone (+€1.7 billion), the €1.3 billion went into global equity products and global emerging market equity funds added the same amount.
On the flipside, investors were withdrawing cash primarily from the Bond USD Inflation Linked sector, which saw €800 million removed. Also experiencing outflows were the German and US small- and mid-cap equity sectors, which saw €600 million and €400 million withdrawn, respectively.
iShares continues to dominate the promoter ranks, with €4.6 billion added in May, which means it now oversees €2.73.1 billion in assets. This is while Lyxor ETFs and Deutsche AM’s x-trackers range sit second and third, respectively but at a much lower level of market share.