The European exchange-traded fund and exchange-traded commodity market suffered outflows of €7.9bn in the third quarter of the year, the first negative outcome since the first quarter of 2020.
According to Morningstar's latest Direct European ETF Asset Flows update, assets under management dropped from €1.31trn to €1.17trn in the second quarter due to falling equity and bond markets over the period, which was caused by inflation pressures, the war in Ukraine and 2023 recession prospects. However, ESG ETFs continued to attract inflows. In the third quarter, they gathered €14.9bn, up from €6.7bn in the previous quarter. Assets grew to €225.6bn from €216bn and now represent 17.7% of total assets invested in ETFs in Europe. Morningstar: UK open-ended funds suffer largest outfl...
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