European ETF market hits €91bn

EUROPE - The European exchange traded fund (ETF) market grew by over 6% in 2008 to reach a total assets under management (AuM) in excess of €91bn (US$118bn), according to Lyxor Asset Management. Lyxor, the wholly owned subsidiary of Société Générale, said the European ETF market grew by 6.49% during 2008, while its own ETF platform increased by 7.56% to end the year with an AuM of €23.6bn. It added net new inflows last year totalled €11.5bn, representing growth of 306% over 2007. According to the asset manager, at the end of 2008 there were 30 ETF providers active in Europe, with some...