Lyxor Asset Management surpassed €30bn in ETF assets under management (AUM) in November 2009, representing a 30.92% rise compared with a year ago.
The Lyxor ETF DJ Euro Stoxx 50 has accrued €5bn in AUM, placing it as the largest equity ETF in Europe, according to Lyxor.
Global head of Lyxor ETFs Dan Draper says the two factors impacting AUM are net inflows and the price of the index, or the returns.
He says: "We see three strong stories out of the growth. The biggest theme is in commodities, as seen with the Lyxor ETF Commodities CRB on the Commodities Research Bureau index." Net inflows into this ETF increased by 350% over the year, and the fund has over €500m in AUM.
Draper says the second biggest theme has been emerging market equities. He adds: "Our flagship Asian product is the Lyxor ETF MSCI Asia Pacific ex Japan, which has seen net inflows increase by 225% year to date (YTD), with €550m in AUM. The emerging markets theme is still really strong."
The third major theme has been inflation-linked bonds, says Draper. Net inflows into the Lyxor ETF Euro MTS Inflation Linked fund have increased 200% YTD, with €700m in AUM.
In terms of net new assets, Lyxor gained €772m in November across equity, fixed income and commodities ETFs.
Draper says: "Clearly, commodities, emerging market equities and inflation-linked funds are inflation hedges. From the inflows we are seeing, investors are trying to position themselves for a higher growth environment than expected, and certainly higher inflation."
He adds: "On the one hand, people who do want to take risk want to go for growth and emerging markets, but on the other hand they want to hedge inflation."
Lyxor has also seen a significant level of interest in ETFs based on defensive sectors, such as utilities and telecoms, which have high dividend yields.
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