"The growth is phenomenal," says Marlene Hassine, director of ETF research at Lyxor Asset Management. "We've already seen two-thirds of last year's total inflows in the first quarter." The first quarter of 2015 was a record, with €29 billion of net new assets in European ETFs. Equity ETFs have registered strong inflows at €17 billion, earmarked mainly toward developed European and Asian markets on the back of accommodative monetary policy. Japan equity inflows reached a record one-year high, and European equity ETF inflows are very close to a one year record high. "Conversely, U.S. flows have reversed," she says. After record inflows of €61 billion in 2014, they turned negative by €1.5 billion. Emerging market equity flows are also negative, with EUR1.1 billion of outflows, mainly because of uncertainty about an interest rate increase by the U.S. Federal Reserve.
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