Smaller rival exchange-traded product (ETP) providers outpaced Europe’s third largest player, Lyxor Asset Management, in terms of gathering new assets in the year to the end of August.
The five leading gatherers of net new assets for ETPs, a product set that includes exchange-traded funds (ETFs), were iShares, Vanguard, db-X trackers, Think ETFs, UBS Global Asset Management and HSBC, according to ETFGI data.
During the same period, assets under management (AUM) in ETPs listed in Europe reached a record $477.4 billion (€368.5 billion). iShares remains the largest provider in terms of assets, followed by db-X trackers and then Lyxor.
Record highs in asset levels were also reached by ETP industries in Canada, Asia Pacific (ex-Japan) and globally, with $2.7 trillion in global assets.
Deborah Fuhr, managing partner at ETFGI, says: “In August investors invested net new money into an array of equity, fixed income and commodity exposures due to concerns over the situations in Ukraine and Gaza.”
The S&P 500 was up 4% in August and closed above the 2,000 threshold for the first time on August 26, notes Fuhr. Developed markets were up slightly, emerging markets gained 3% and Latin America was up 9% in August.
August was also a good month for fixed income, Fuhr says.
In August, equity ETPs gathered listed in Europe the largest net inflows with $4.4 billion, followed by fixed income with $2.8 billion, and commodity products saw $132 million.
iShares’ $223.4 billion in AUM reflects a 46.8% market share.
The top three providers, out of 50, account for 68.8% of European assets, while the remaining 47 providers each have less than 5% market share.
Think ETFs is a provider based in the Netherlands.
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