Inflows into European ETFs surge in Q3, driven by equities, says Amundi Investment Solutions

LONDON, Oct 12 (Reuters) — European exchange traded funds (ETFs) saw strong inflows in the third quarter driven by equities, while demand for gold products surged against a backdrop of rising US Treasury yields, Amundi Investment Solutions said in a report on Monday. Global markets were whipped around in the last quarter as the Iran war stoked worries about high inflation and contributed to a selloff in bonds, while the AI boom buffered stocks. The European-domiciled UCITS ETF market saw net new assets of €127.4 billion ($142.34 billion), a 12% increase from the second quarter, said Amundi. This took total assets under management to just over €3 trillion, it added. Equities accounted for the bulk of ETF allocations at almost €100 billion, Amundi said, adding that inflows into gold were also notable. Gold exchange traded products (ETPs) and exchange traded commodities (ETCs) saw more than €10 billion allocated in the third quarter — exceeding the best full-year of inflows into the precious metal, worth €7.6 billion in 2022. "Inflows into gold ETCs and ETPs accelerated sharply in August and September, as investors responded to the bond market sell-off, rising Treasury yields and a mo