European ETPs see Q1 inflows of €5.38bn

European exchange traded products saw net inflows of €5.38bn in the first quarter of 2012, growing the market to €247.76bn.

Inflows were spread across a broadening number of asset classes, analysis by asset management company Lyxor has shown.

Almost half (47.5%) of the European ETP industry’s assets under management are based on physical related products, with 38.3% on synthetic products.  The physical commodity area makes up 13.9% of total AUM.

The overall positive inflows, combined with market rises, grew the ETP market by 9.4% over the period. Inflows in 2012 have been spread across a greater number of exposures against 2011, when a handful of asset classes, such as German and US equities, and gold, were favoured.

Investor sentiment is favouring riskier asset classes. Regional equity inflows, which stood at €1.7bn, were predominantly focused on global emerging market exposures with more limited inflows to global developed markets.

Equity outflows in France stood at close to €400m, with German equity outflows of around €327m, whilst Switzerland saw outflows of €307m. Overall European equity ETF outflows were in excess of €1bn, with no significant areas of inflows. Despite recent trends, German equity ETFs represent over 53% of developed European country ETFs and over 9% of all European ETP assets.

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