GLOBAL - Lyxor Asset Management has reported it ended 2008 with over €5bn (US$6.6bn) of assets under management in its European equity exchange traded fund (ETF) platform.
Lyxor said it saw inflows in excess of €1.5bn over 2008 and despite the global equity correction - with equity ETFs still representing over two thirds of the total AuM in Europe.
It added the strong interest seen in ETFs over 2008 was due in part to the shift in investor appetite to passive vehicles and index-based products.
Also it claimed the cost efficiency, transparency and high liquidity of ETFs made it easier for investors to access the whole market.
The company said: "Investors have been increasingly selecting index-tracking investments because the correlation between asset classes and their overall volatility are at high levels, making stock-picking extremely difficult."
In similar news, State Street Global Advisors (SSgA) announced it has listed two new ETFs on the New York Stock Exchange (NYSE).
The two new products are the SPDR Barclays Capital Mortgage Backed Bond ETF and SPDR Barclays Capital Short Term International Treasury Bond ETF.
The Capital Mortgage Backed Bond ETF has been designed to track the price and yield performance of an index tracking the U.S. agency mortgage pass-through sector of the U.S. investment grade bond market, while the Short Term International Treasury Bond ETF tracks short-term (1-3 year remaining maturity) fixed rate, investment grade debt issued by foreign governments of investment grade countries.
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On balance the asset class is well-positioned for 2019, according to Eaton Vance