Oh, okay.
ENDS
ENDS
ENDS
Well -
'Surely there's more to the email than that, boss? I want to hear more.'
All right, Voice. But I'm just warning you that this is a Monday morning, you dig?
'I understand.'
Right ...
Long-term products enjoyed overall inflows over the course of 2023 (+€22.7 bn).
Money Market EUR was the best-selling Lipper Classification for the year 2023 (+€107.7 bn).
BlackRock was the best-selling fund promoter in Europe for the year 2023 (+€107.8 bn).
The overall number of funds in the Europe increased by 341 products.
It's about ETFs.
'Where's Detlef?'
He's here somewhere.
'What about Lucky?'
He's probably in the PDF, but I won't be opening it, not today.
London, 5 March 2024: ETFs have witnessed inflows of €154.9 bn over the course of 2023. These flows marked the second highest inflows into ETFs in history and fell only shy of the record inflows of the year 2021 (+€161.4 bn). Therefore, 2023 will be considered as a very good year for the European ETF industry.
Conversely, actively managed long-term mutual funds faced outflows (-€173.5 bn). That said, the inflows into money market products (+€161.2 bn) brought the overall outflows from actively managed funds down (-€12.4 bn).
'Is that Detlef?'
No. I don't know who it is.
Some market observers may speculate that European investors are selling actively managed products and buying back passive products, especially for classifications with roughly matching numbers for the outflows from actively managed funds and the inflows into ETFs. Generally speaking, one could agree with this thesis by looking at the high-level numbers, but since this can't be proven by facts, agreeing with this assumption depends on the reader's point of view.
'Who is that?!'
I have no idea.
'There are no speech marks.'
So?
Please ...
This is a Monday morning, man.
'I understand.'
In addition, one needs to bear in mind that -
No, no - NO - !!! I don't need to bear in mind, actually. I want to hear from Detlef.
'Yeah! Come on!'
[I've got a cold, by the way, dear reader(s).]
Detlef Glow, Head of European of Lipper Research, comments: "2023 was not an easy year for the European fund industry. Beside some economic headwinds, the industry faced massive outflows from mixed-assets funds. In addition, European investors moved from actively managed equity funds towards equity ETFs."
Ah, the great man himself. 'Yippee!'
"These and the other fund flow trends put some pressure on the balance sheets of the promoters of actively managed funds in Europe, while the promoters of ETFs enjoyed the second highest inflows on record over the course of 2023. There were also some other fund flow trends underneath the headline trends for 2023, which might be surprising for investors and market observers."
Speech marks, too, Voice. 'Detlef is a professional, boss.' Of course he is!
Detlef concludes: "2024 Lipper Fund Award exceptional winners have taken full advantage of opportunities, displaying a shrewd investment approach that adeptly managed portfolios during trying times and yielded outstanding results."
Three paragraphs, not bad.
'Thanks, Detlef!'
And we'll just finish off with the full European picture -
The full European picture:
The promoters of mutual funds (+€40.5 bn) and the promoters of ETFs (+€154.9 bn) enjoyed inflows over the course of 2023.
The inflows into ETFs for 2023 were the second highest inflows for ETFs in Europe in history.
Long-term products enjoyed overall inflows over the course of 2023 (+€22.7 bn).
Actively managed long-term products (-€173.5 bn) faced massive outflows for the year 2023.
Mixed-assets funds (-€100.3 bn) posted the highest estimated outflows on record for 2023.
Money market products enjoyed the highest estimated net inflows (+€172.6 bn) for 2023.
Money Market EUR was the best-selling Lipper Classification for the year 2023 (+€107.7 bn).
BlackRock was the best-selling fund promoter in Europe for the year 2023 (+€107.8 bn).
The overall number of funds in the Europe increased by 341 products.
Fair enough.
ENDS
Anyway ...
Laters.
