Investors, market observers, and regulators always raise questions about the competitiveness of the European ETF industry since assets under management seem to be concentrated among a few ETF promoters. Generally speaking, I would agree with the statement that one needs to be concerned if a few players are dominating a market, but not when it comes to the European ETF industry. Graph 1 shows that the European ETF industry is highly concentrated at the promoter level since the 10-top promoters in Europe held between 93.52% (June 30, 2023) and 95.06% (December 31, 2024) of the overall assets under management in

February 2025 was another month with strong inflows (+€33.8 bn) for the European ETF industry. These flows were way above the rolling 12-month average (€23.5 bn) and might be an indicator that the European ETF industry is set to continue to grow above average over the course of 2025. In fact, if the European ETF industry is able to maintain net inflows at the same level for January and February for the rest of the year, it would hit an all-time high for annual inflows on a totally different level than before. The inflows in the European ETF industry for

In this issue of LSEG Lipper’s Swiss Mutual Funds & Exchange-Traded Products Snapshot, we feature a summary of total net assets (TNA) and estimated net flows (ENF) for Swiss conventional funds and exchange-traded products for February 2025.   Loading

On March 20th, 2025, LSEG Lipper unveiled the results of the LSEG Lipper Fund Awards for Europe. The ceremony was held as an in-person event at One Moorgate Place in London, England, UK. Click here for more information about the event. The awards are based on the Lipper Leader rating for Consistent Return. These ratings are calculated using a utility function based on the effective return over multiple non-overlapping periods—within the respective three-, five-, and 10-year horizons, based on Lipper’s proprietary performance-based methodology. Eight Group Awards, including the coveted Overall Award, were also given to firms with superior asset class

On the evening of March 20, 2025, LSEG Lipper announced the winners of the prestigious LSEG Lipper Fund Awards Europe 2025 at its awards ceremony in London. This in-person event gathered investment professionals from all over Europe who wanted to celebrate their success with the other winners, industry experts, and journalists. The periods spanned by these awards delivered a host of challenges, whether Covid, war in Europe, or major policy shifts in leading economies. This has been intertwined with economic turbulence, from rising volatility to the implosion of the low-rate environment born in the wake of the global financial crisis.

Total flows to mutual funds for February were €76.91bn. This breaks down to: mutual fund flows (+€43.16 bn) and ETFs (+€33.75bn). Bond funds (+€25.83bn) were the best-selling asset type overall for February, followed by MMFs (+€25.28bn) and equity funds (+€23.07bn). ETFs continue to eat passive mutual funds’ lunch, as the former benefitted from inflows of €33.75bn while the latter shed €5.73bn in February (-€2.77bn YTD). European investors allocated €22.99bn into Money Market USD funds—the best-selling classification for the month. Turkish lira MMFs saw the largest sell off (-€3.43bn), with investors reversing their bets on the currency strengthening.   As S&P

February 2025 was another month with strong inflows for the European ETF industry. These inflows occurred in a volatile market environment in which investors around the globe acted nervous over any political and economic news. Investor sentiment was impacted by the discussions around tariffs by the U.S. president and potential tit-for-tat reactions from the markets which are the targets of the new tariffs. That said, the tariffs are seen as a kind of trade war between the U.S. and the rest of the world by some market observers. When it comes to this, investors were concerned about a political shift

Before the financial crisis occurred in 2008, the market share of the main replication methods used by ETF promoters in Europe was nearly evenly split between physical (full/optimized) and synthetic replication. That said, one needs to bear in mind that the vast majority of assets in the European ETF industry was invested in equity ETFs at this point in time. This changed in the aftermath of the financial crisis as European investors realized that a swap or other derivatives used for synthetic replication have a counterparty risk and, therefore, avoided ETFs which were using synthetic replication where possible. As a

The total expense ratio (TER) of an ETF is a measure that sums up the management fee of the ETF plus all other expenses paid by the ETF. Therefore, an analysis of the Total Expense Ratios is more meaningful than a quick comparison of management fees. Even though the TER is a competitive measure, it has some flaws since there are costs which are not covered within the TER. In addition, there are costs for buying, selling, and holding an ETF. All the missing costs are displayed in the total costs of ownership (TCO). Since some of these costs depend

    Mutual funds (+€45.96 bn) and ETFs (+€28.98 bn) enjoyed inflows for the month, with total estimated net inflows of €74.96 bn over the course of January 2025 Money market funds (+€25.08 bn) were the best-selling asset type. This was followed by equity funds (+€23.29 bn) and bond funds (+€21.79 bn). For long-term assets only, ETFs net €27.32bn compared to €18.02bn for actively managed funds. Money Market EUR (+€15.22bn) was the best-selling classification, followed by Equity US (+€10.7bn), then Equity Global (+€10.2bn). BlackRock (+€8.53 bn) was the best-selling fund promoter in Europe for January.   The European fund industry

The European ETF industry enjoyed strong estimated net inflows (+€29.0 bn) over the course of January. These flows were way above the rolling 12-month average (€22.0 bn) and might be an indicator that the European ETF industry is set to continue to grow above average over the course of 2025. The inflows in the European ETF industry for January were driven by equity ETFs (+€24.0 bn), followed by bond ETFs (+€3.6 bn), money market ETFs (+€1.7 bn), and mixed-assets ETFs (+€0.1 bn). On the other side of table, commodities ETFs (-€0.03 bn) and alternatives ETFs (-€0.4 bn) shed money. Estimated

In this issue of LSEG Lipper’s Swiss Mutual Funds & Exchange-Traded Products Snapshot, we feature a summary of total net assets (TNA) and estimated net flows (ENF) for Swiss conventional funds and exchange-traded products for January 2025.   Loading