Deutsche Bank : European Monthly ETF Market Review – September

European equity demand returns…

Deutsche Bank : European Monthly ETF Market Review forSeptember  2017

Data in this report is as of 29th September 2017.

European ETP Monthly Highlights (Assets, Flows & Launches):

Assets & Flows: Assets rose by €18bn MoM (Total Assets €630bn), Net inflows +€6.7bn (YTD +€75bn)

20 New Launches: 18 Equity and 2 Fixed Income ETFs.

Investment Themes for the Month Equities (+€6.3bn) – Winners: Europe +€2.9bn, EM +€1.4bn, US +€1bn, Japan +€747mn & Global DM +€239mn; Smart Beta covering all regions saw +€1.1bn inflows. Regional flow drivers:

Europe (+2.9bn): Regional (EStoxx 50 & Stoxx 600) and Sector (Banks) ETFs were the major contributors. ESG ETFs also had notable inflows.

Other regions (+3.5bn): 1) EM inflows (MSCI EM and MSCI EM IMI) 2) US inflows (S&P 500). 3) Japan inflows (MSCI Japan) 4) Global DM inflows (MSCI World & MSCI World Momentum)

Fixed Income (+€0.7bn) – Mixed flow trends across regions; Winners: EM + €745mn, US +€202mn; Losers: Europe -€666mn, Global -€9mn. Regional flow drivers:

Europe (-€0.7bn): Outflows from Sovereign ETFs partially offset by inflows into HY Corporate ETFs.

Other regions (+€0.9bn): 1) EM inflows (almost entirely Sovereign) 2) US inflows (across multiple segments) 3) Global DM mild outflows (HY Corp inflows offset by IG Corps)

Commodities (-€94mn) –  Inflows in Broad Commodity (+€263mn), while Gold and Crude Oil based ETPs saw redemptions (-€178mn & -€132mn respectively).

Turnover: MoM turnover decreased by 10% The total turnover activity into European ETPs decreased by 10% where total turnover observed was (€58bn) compared to the last month’s total (€53bn).

Quelle: ETFWorld

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