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Lyxor Etf Barometer – April 2014: Monthly European ETF Market Trends

European ETF Market flows decreased significantly in March 2014.  NET NEW ASSETS (NNA) during this month amount to EUR896Mn, 40% below the 12-month average. Helped by a positive market impact (MSCI ACWI 0.71%, in March 2014*), total market Asset…


Marlène Hassine – Head of ETF Research – Lyxor ETF


Lyxor Etf Barometer – April 2014


under Management are still up 4% vs. the end of 2013, reaching EUR299bn.  Markets have been impacted by deflation fears in the Eurozone, negative macro newsflow both in the US and in China and doubts on the success of the “Abenomics” in Japan.

European ETF Market flows decreased significantly in March 2014.  NET NEW ASSETS (NNA) during this month amount to EUR896Mn, 40% below the 12-month average. Helped by a positive market impact (MSCI ACWI 0.71%, in March 2014*), total market Asset under Management are still up 4% vs. the end of 2013, reaching EUR299bn.  Markets have been impacted by deflation fears in the Eurozone, negative macro newsflow both in the US and in China and doubts on the success of the “Abenomics” in Japan.

Fixed income indexations appear to be the main beneficiaries of this more risk-off environment. Inflows of this asset class have reached EUR1.9bn, close to last month record high, more than twice the one-year average. Interestingly, these fixed income flows continue to be significantly above those of equity reflecting deflation fears from investors searching for yield.
Equity indexations have experienced significant outflows of EUR943M, halting a nearly uninterrupted trend of positive inflows started one year ago. These outflows have been mainly concentrated on Developed Equity indexations with Europe experiencing the highest outflows. It’s worth noticing that the situation has been mixed in Europe, with peripheral countries still attracting significant inflows of EUR542M helped by positive economic newsflow. Emerging Markets outflows have nearly stopped and are mainly concentrated on exposures to China.
– After a small revival in February, Commodities flows have resumed their downward trend with EUR65M of outflows, due to poor prospects on the asset class.

*MSCI ACWI +0.71% between 28/02/14 and 31/3/14 in EUR

Source: ETFWorld.fr – Lyxor

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