DWS blames ‘timing’ for its heavy ETF outflows this year
Latest news on ETFs
Visit our ETF Hub to find out more and to explore our in-depth data and comparison tools
DWS has suffered near-record exchange traded fund outflows this year, even as the European industry as a whole attracted net inflows of almost €60bn.
Xtrackers, DWS’s ETF business, had net outflows of €4.8bn between January and the end of October, according to Morningstar data. European ETFs overall had net inflows totalling €58.9bn over the same period.
DWS said: “[Outflows were driven by] well-known global issues financial markets are facing”.
“This risk-off movement became a topic for the ETF industry as a whole later on. The difference in timing is the main reason [for] the different flow patterns between Xtrackers ETFs and others.”
The German asset manager’s ETF business has only twice experienced net outflows over a calendar year, Morningstar data suggest. The firm had net outflows of €4.9bn in 2016 and €4.4bn in 2013.
This story originally appeared on: Financial Times - Author:Ed Moisson