The positive balance of the European steel industry Exchange traded funds (ETF) stood at €47,9 billion in 2016. In the fourth quarter alone, the instrument attracted €11,5 billion of new flows. At the end of the calendar year, assets increased from 466 billion in 2015 to 546 billion.
As for the equities, the latter three months of 2016 they marked a turning point, which led to positive net inflows of 13,6 billion (365 billion of assets under management), thanks in particular to funds indexed to the American market. Bonds, on the other hand, experienced net outflows of €2,5 billion in the fourth quarter. In any case, this asset class recorded positive inflows of 20,6 billion in 2016, increasing its market share to 24,1% from 22,6% in 2015.
- etc. (Exchange traded commodities), on the other hand, recorded net flows of €0,9 billion in the fourth quarter, bringing the year-to-date total to +12 billion. Assets under management amount to 43 billion (+28 billion at the end of 2015). Finally, strategic beta ETFs closed 2016 with a positive balance of 9 billion, equal to 19% of total new flows, up from 10% in 2015. Assets under management rose to 43 billion (31 billion in 2015 ).
In the last months of the year, the “Trump Rally“, which pushed specialized ETFs onto Wall Street, while the last few months have signaled the suffering of emerging markets, which nonetheless closed 2016 with a positive balance of 5,3 billion.
In terms of ETF issuers, in first place for net flows in 2016 is iShares (+26,4 billion), whose market share has been stable at around 46% for three years. Competition was intense among other providers. Db x-trackers has maintained its second place, but has suffered net outflows over the past year and a drop in market share from 11,9 to 9,8% (data excludes the db-X Etc range). Lyxor remains in third position, but has closed the gap to Db x-trackers. Finally, State Street, Amundi, Vanguard and UBS have all attracted new flows, gaining market share over competitors.
