Eurozone Bluechips and Financials beneﬁt most in July...
Deutsche Bank : European Monthly ETF Market Review for July 2017
Data in this report is as of 31st July 2017
European ETP Monthly Highlights (Assets & Flows):
Assets: European ETPs AUM increased by €4.4bn on MoM basis and ended the month at €610bn.
Flows: European-domiciled ETPs registered inﬂows of +€8.6bn in July where year-to-date ﬂows have reached +€65bn.
New Product Launches – 13 New products European market witnessed 13 new products launched during last month including 6 Equity ETFs, 4 Fixed Income and 3 Commodity ETFs.
Investment Themes for the Month
- European regional indices recorded net inﬂows of +€1.7bn, mostly into the Euro STOXX 50 index. EM also saw inﬂows (+€384mn). Country wise, Germany (+€531mn), US (+€313mn) & Japan (+€132mn) beneﬁted while Switzerland saw outﬂows (-€95mn).
Smart Beta segment recorded inﬂows of +€1bn driven by Value (+ €349mn), ESG (+€290mn), and Dividend (+€206mn). Low Vol ETFs saw redemptions (-€156mn).
Sector-wise, Financials gained an impressive +€1.3bn.
Currency Hedged and Leverage Long ETFs had a strong month with inﬂows of +€638mn and +€199mn respectively. EUR hedged products drove the Currency Hedged segment.
Fixed Income ETFs witnessed +€2.3bn inﬂows where the Money Markets segment grew by 16% (c.€500mn).
+€0.6bn inﬂows in Commodity ETPs where Gold (+€292mn) and Broad Commodity (+€139mn) contributed most.
US listed ETFs with exposure to European equities drew +$354mn.
Turnover: MoM turnover decreased by 17% The total turnover activity into European ETPs decreased by 17% where total turnover observed was (€55.2bn) compared to the last month’s total (€66.6bn)