European ETF flows doubled to €30 billion in the first quarter of 2017, following a slow-down last year which led to flows falling to €15.4 billion in the last quarter of 2016, according to new figures from Amundi.
Amundi, one of the largest providers of ETFs that track European indices, said that €19 billion of the €30 billion of inflows into Europe-based ETFs went into equities in the first quarter of 2017, essentially accounting for two thirds of the total.
US equities were in the lead, gathering more than €2.9 billion during the quarter, including €1.46 billion in March, followed by world equity ETFs which recorded more than €2.05 billion of inflows in the first quarter.
Eurozone equity ETF flows also accelerated accounting for more than €1.7 billion of infows in the first quarter of which €1.02 billion in March.
Amundi claims that the improvement in Europe is due to a flurry of recent positive data on employment, growth and inflation and that corporate profits in Europe are expected to rise after bottoming in 2016.
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