Refinitiv : European ETF Market, January 2021


Refinitiv: January 2021 was another positive month for the European ETF industry since promoters enjoyed inflows.

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By Detlef Glow, Lipper’s head of EMEA research at Refinitiv

These inflows occurred in a positive market environment in which investor sentiment was still impacted by the aftermath of the presidential election in the U.S. and the increasing dynamics of the COVID-19 pandemic.

The positive performance of the underlying markets led in combination with the estimated net inflows to increasing assets under management (from €992.6 bn as of December 31, 2021, to €1,008.9 bn at the end of January).

The increase of €16.3 bn for January was driven by the estimated net sales (+€15.2 bn), while the performance of the underlying markets contributed €1.1 bn to the increase of the assets under management.

It was not surprising equity funds (€690.1 bn) held the majority of assets, followed by bond funds (€272.6 bn), commodities products (€36.6 bn), alternative UCITS products (€5.1 bn), money market funds (€2.3 bn), mixed-assets funds (€1.9 bn), and “other” funds (€0.2 bn).

Graph 1: Market Share, Assets Under Management in the European ETF Segment by Asset Type, January 31, 2021

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Source: Refinitiv Lipper

Fund Flows by Asset Type

The European ETF industry enjoyed healthy estimated net inflows for January (+€15.2 bn) which were far above the rolling 12-month average (€7.8 bn).

The inflows in the European ETF industry for January were driven by equity ETFs (+€12.6bn), followed by Bond ETFs (+€1.9 bn), commodities ETFs (+€0.7 bn), mixed-assets ETFs (+€0.1 bn), alternative UCITS ETFs (+€0.06 bn), and “other” ETFs (+€0.01 bn). Meanwhile, money market ETFs (-€0.3 bn) was the only asset type with outflows for the month.

This flow pattern drove the estimated overall net inflows to €15.2 bn for the month.

Graph 2: Estimated Net Sales by Asset Type, January 2021 (Euro Millions)

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Source: Refinitiv Lipper

Source: ETFWorld

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