European listed exchange traded products (ETPs) enjoyed net inflows of €5.38bn during the first quarter of 2012, according to analysis by Lyxor.

Together with positive market moves, this has resulted in a general rise of ETP assets under management by 9.4% to €247.76bn in the first quarter of this year.

In 2011 the inflows were highly concentrated into mainly German and US equities and precious metals (predominantly gold), but the initial flows in 2012 have been more widely spread across asset classes.

While regional equities dominated overall inflows at close to €1.7bn, this was mainly focused on global emerging markets exposures with more limited asset gathering in global developed markets.

Unlike last year, when the market was impacted by a wide range of factors, the start of 2012 has been generally focused on more positive investment themes and a general shift to riskier asset classes.

The top three areas for inflows in the first quarter were regional, with 31.2% of total net new flows, followed by commodities and fixed income, with 26.7% and 15.8% of net new flows, respectively.

Country related ETPs still have the highest AUM at 30.5% of total ETP AUM, followed by regional ETPs with 23% of total AUM.

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