Decrease of Dutch investments in exchange-traded products

Statistical News Release
Date 20 March 2012

An exchange-traded product (ETP) is a listed investment fund aiming to realize returns linked to a specific index. In recent years, assets managed by ETPs worldwide have strongly increased, partly owing to the greater popularity of passive investment. At year-end 2011, assets managed by ETPs amounted to EUR 1,175 billion, an increase of 6.2% compared to 2010. The number of ETPs worldwide rose from 3,543 in 2010 to 4,221 in 2011.

The Dutch ETP market is limited in size. At year-end 2011 there were nine ETFs established in the Netherlands with joint managed assets of approximately EUR 70 million. In 2010, total net assets were just EUR 18 million. The Dutch ETFs are traded on Euronext Amsterdam. Apart from the nine Dutch-based ETFs, 107 foreign ETPs have a (secondary) listing on the Amsterdam stock exchange. In addition, Dutch investors may also invest in ETPs listed on other stock exchanges. Total investments by Dutch investors in foreign ETPs decreased from EUR 4.5 billion in 2010 to EUR 3.9 billion in 2011 (see Figure 1) (Note 1), a decrease of 12.8%. Investments in foreign ETPs by institutional investors (such as pension funds, insurers and investment institutions) decreased from EUR 2.3 billion in 2010 to EUR 1.8 billion in 2011 (see Figure 1). Investments of Dutch households in foreign ETPs dropped from EUR 2.2 billion in 2010 to EUR 2.1 billion in 2011.

Dutch investments in foreign ETPs

In the second half of 2011, households withdrew EUR 86 million from foreign ETPs (see Figure 2) (Note 2). A reason for this could be a higher risk aversion among private investors. In the third quarter of 2011, the AEX index − being the Dutch households’ main stock exchange for investments in ETPs − went down 17.5% quarter-on-quarter.

Net inflow in ETPs by households

For further information please contact Herman Lutke Schipholt (tel. +31 20 524 2712, + 31 6524 96 900) or Kees Verhagen (tel. 020-524 2272, 06-211 23 922).

Note 1: Figures relate to investments by Dutch investors at the ten largest global providers of ETPs with a joint market share of approximately 80% of the worldwide ETP market.
Note 2: Net outflow from ETPs listed on Euronext Amsterdam.