European ETFs reach record $539bn in July
Assets invested in ETFs and ETPs listed in Europe have reached a record level of $539bn (€482.5bn) according to the latest data provided by ETFGI.
The European passive fund industry now features 54 providers offering 2220 different funds across 25 exchanges in 21 countries.
Data for July turned out to be solid, with passive funds attracting $9.4bn (€8.4bn) in July. Among passive funds, fixed income remained the most popular asset class, reporting $4.8bn (€4.3bn), followed by commodity funds which attracted $2.59bn (€2.32bn). while equity ETFs faced significant challenges in the first half of 2016, they now attracted $2.2bn in (€1.97bn) of new inflows in July.
“Investor confidence returned during July after the surprising result of June’s Brexit vote. The S&P 500 was up 3.7% in July. Developed markets outside the U.S. gained 5.1% and emerging markets were up 4.8%” according to Deborah Fuhr, managing partner at ETFGI.