Markit Equities Research has published figures suggesting Europe’s ETF industry attracted some $9.4bn in net inflows in the first nine months of 2013.
The inflow figure covers some 2,370 ETFs, Markit said. Together with returns from existing assets, the sector has seen its total AUM rise above $388bn in value.
Segmenting the figure by type, Markit said that net inflows to European equities ETFs hit some $11.4bn. However, commodity ETFs saw net outflows of about $10.1bn over the period.
“The ETFS Physical Gold fund, which started the year with the most assets under management, saw the second largest outflows out of any European ETP. The fund, which had $8.5bn of assets under management at the start of the year, saw nearly $2bn of redemptions as its net asset value fell by 20.5%,” Markit said.
Newly launched funds have also been able to attract significant inflows. The 151 new funds in the period attracted some $2.5bn in net inflows.
“Leading the way as the largest newly launched European fund is the SPDR MSCI EMU fund, which has raised $293 million since its late January launch date.”
“While the largest launched fund was an equity fund, the overall asset exposure of newly launched funds tilts towards fixed income. This asset class has indeed experienced the largest net inflow since its creation. The $1.3bn raised by fixed income finds edges out the equity total by $150m. Seven of the top 10 largest launched so far this year are fixed income funds.”
“Of all the funds launched, State Street has had the best luck raising capital from this year’s crop of newly launched funds. The company’s SPDR franchise has raised $657m from new launches so far this year. Deutsche Bank comes second, having raised $585m, nearly half of which was raised by the previously mentioned MSCI EMU fund.”