European-domiciled euro-denominated exchange-traded products (ETPs) had their best month for 13 months, according to figures published today.
The data showed that June was the best month for European investment-grade ETPs since May 2016, gathering $1.2 billion (€1.05 billion).
So far this year $28.8 billion has flowed into European equity ETPs, with nine consecutive months of inflows, making it the longest inflow run since 2010.
“This is the second net inflow month in a row for euro-denominated investment grade ETFs and comes after a long period of instability in the flow patterns,” said Patrick Mattar of BlackRock’s capital markets team.
“The French election result appears to have reduced concerns around European political risks. Even hawkish rhetoric from Mario Draghi [ECB president] at the end of the month could not shake the positive picture for euro-denominated investment grade.”
The data also showed that ETPs gathered $59 billion globally in June, with US equities bringing in $13.9 billion.
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