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European ETF market hits record $1.72trn


Assets under management in the European ETF market reached a record $1.72trn at the end of November, beating the previous all-time high of $1.69trn set at the end of July.

The market gathered $18.2bn in net inflows last month, bringing the year-to-date net inflows to $138.4bn, according to an ETFGI report. These inflows are the second highest on record, following year-to-date net inflows of $181.6bn in 2021.

Assets invested in the ETF industry in Europe have grown 21.6% so far this year, from $1.42trn at the end of 2022 to $1.72trn. 

Equity ETFs enjoyed net inflows of $12.1bn last month, taking the total year-to-date net inflows to $80bn, well above the $51.8bn in net inflows by this point in 2022. 

Fixed income year-to-date net inflows were also higher than during the same period last year, totalling $59.2bn, more than double the $21.1bn of 2022. In November, fixed income ETFs brought in $7.9bn. 

Active ETFs gathered net inflows of $38m during the month, bringing the total for the year to $6.2bn, surpassing the $2.5bn in net inflows in 2022. 

"The S&P 500 index was up 9.1% in November and is up 20.8% year-to-date in 2023. Developed markets excluding the US index increased by 9.7% in November and is up 11.6% YTD in 2023," said ETFGI founder and managing partner Deborah Fuhr. "Israel (up 19.4%) and Sweden (up 18%) saw the largest decreases among the developed markets in November. Emerging markets increased by 7.2% during November and were up 6.9% YTD in 2023. Egypt (up 14.6%) and Brazil (up 14.1%) saw the largest increases among emerging markets in November," she added. 

At the end of November, the European ETF industry had 2,968 products, with 12,117 listings from 99 providers listed on 29 exchanges in 24 countries. 

The top 20 ETFs collectively gathered $13.5bn in November, with the iShares Core € Corp Bond UCITS ETF attracting the largest individual net inflow at $2.7bn.