Deutsche Bank : European Monthly ETF Market Review – June

Highest inflows into Fixed Income ETFs since July 2016…

Deutsche Bank : European Monthly ETF Market Review for June 2017

Data in this report is as of 30 June 2017

European ETP Monthly Highlights (Assets & Flows):

■ Assets : European ETPs AUM decreased by €1.5bn on MoM basis and ended the month at €605bn.

■ Flows : European-domiciled ETPs registered inflows of +€8.7bn during last month where year-to-date flows have reached +€57bn.

New Product Launches – 6 New products

European market witnessed 6 new products launched in June which were all Equity ETFs.

Investment Themes for the Month

■ Marginal  outflows  from  European  equity  (standard  indices)  following negative market returns in June (-€95mn). EM saw significant inflows (+ €1.1bn). Country wise, US (+€635mn), Japan (+€391mn) benefited while Germany saw outflows (-€763mn).

■ Smart  Beta  segment  recorded  inflows  of  +€1bn.  Factor  (+€505mn), Thematic  (+€198mn),  Dividend  (+€186mn)  and  ESG  (+€146mn)  ETFs were the segments that benefitted. Factor flows were distributed across Low Vol, Value and Multi-Factor strategies.

■ Sector-wise, Industrials (+€210mn) benefitted while Financials (-€261mn) and Healthcare (-€154mn) saw redemptions.

■ Currency Hedged (+€560mn) equity ETFs had a strong showing which was largely centered around EUR hedged products.

■ Robust Fixed Income inflows (+€4.2bn) mainly into EM Bonds and EUR Corporates.

■ Gold (+€264mn) and Crude Oil (+€282mn) contributed most of the overallcommodity flows (+€431mn).

■ US listed ETFs with exposure to European equities drew +$3.9bn.

Turnover: MoM turnover decreased by 10%

The  total  turnover  activity  into  European  ETPs  increased  by  10%  (€68.5bn) compared to the previous month’s total (€76.3bn).



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