The European fund industry’s assets under management (AUM) increased to €15,381.7 billion by the end of June 2024, rising from €14,371.1 billion at the close of 2023.
This was mainly driven by the performance of the underlying markets, noted Detlef Glow, head of Lipper Emea research at LSEG.
Estimated net sales contributed €172.7 billion to the increase.
Lipper’s European Fund Industry Report for the first half of the year shows that the majority of AUM was held by actively managed mutual funds (€11,845.3 billion).
This was followed by ETFs (€1,814.2 billion) and index-tracking mutual funds (€1,722.2 billion).
ETFs saw higher inflows than index-tracking mutual funds – €104.0 billion versus €30.4 billion – and Glow said it is noteworthy ETF AUM reached a new all-time high at the end of June,
Among other findings were that funds assigned to Article 8 of the Sustainable Finance Disclosure Regulation had €7,429.4 billion of AUM compared to Article 9 funds – which have a stronger sustainability criteria – which held €353.6 billion of AUM.
