November 2020 was another positive month for the European ETF industry since promoters enjoyed inflows. These inflows occurred in a surprisingly positive market environment in which investor sentiment was impacted by the presidential election in the U.S. and the increasing dynamics of the COVID-19. pandemic. The positive performance of the underlying markets led in combination with the estimated net inflows to increasing assets under management (from €877.2 bn as of October 31, 2020 to €952.8 bn at the end of November). The increase of €75.6 bn for November was driven by the performance of the underlying markets (+€58.7 bn), while