The European ETF industry enjoyed inflows over the course of June. These inflows occurred in a somewhat unstable but positive market environment in which some asset classes showed positive results. Meanwhile, others performed negatively over the course of the month. Market sentiment was still driven by hopes that central banks, especially the U.S. Federal Reserve, may have reached the last phase of their fight against high and increasing inflation rates and may, therefore, start to keep interest rates at least stable quite soon. Some investors already expect that there might be room for decreasing interest rates later this year. Nevertheless,

When exchange-traded funds (ETFs) were introduced in Europe in the year 2000 it was hard to predict that these products would write an unbroken success story for more than 20 years. This becomes especially true when one is taking into account that the last two decades saw so many so-called “black swan events” in the financial markets—like no other period before—and each of these events had the power to derail the ETF industry from their growth track. But ETF assets increased during rough market periods—times during which common sense would dictate that active managers would have an advantage over passive