Deutsche Bank : European Monthly ETF Market Review – European equity demand persists

European ETP Monthly Highlights (Assets & Flows): Assets : European ETPs AUM increased by €5.8bn on MoM basis and ended the month at €599.6bn….

Deutsche Bank : European Monthly ETF Market Review for April 2017

Data in this report is as of 28 April 2017.

Flows : European-domiciled ETPs continued its positive run in April with inflows of +€4.6bn where year-to-date flows reached +€37bn.

New Product Launches – 7 New products

European ETP market witnessed 7 new launches in April which includes 6 Fixed Income ETFs and 1 Commodity ETC.

Investment Themes for the Month

European equities drew another +€1.3bn of inflows primarily into broad composites (Euro STOXX 50 (+€900mn), CAC 40 (+€343mn) and MSCI EMU (+€297mn). Country wise, France (+€375mn) benefited while US saw outflows (-€1.4bn).

Smart Beta segment recorded inflows of +€624mn. Although Factor ETFs recorded outflows of -€227mn, its year-to-date flows is still firmly positive at +€900mn. In other segments, Small Cap and Leverage Short ETFs also drew inflows of +€230mn and +€213mn respectively. Financials (+ €278mn) and Energy (+€159mn) sector ETFs also benefitted.

Sovereign bond ETFs contributed most within Fixed Income, attracting + €1bn of new money. Money Market ETFs saw the highest assets growth (+7.5%).

Broad commodity commanded most of the overall commodity flows (+ €320mn) while Gold ETPs witnessed redemptions.

Inflows continued for US listed ETFs with European exposure ETFs (+ $2.5bn).

Turnover: MoM turnover decreased by 16%

The total turnover activity into European ETPs decreased by 16% (€60.7bn) compared to the previous month’s total (€75.9bn).



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