UBS Endures $2.19B in ETF Outflows in March

  • 11 months ago
Swiss Bank UBS posted the largest net outflows for exchange-traded funds in Europe last month. UBS ETFs had €2 billion ($2.19 billion) in net outflows, while Credit Suisse had the second largest in Europe at €179 million ($1.96 billion). Analysts noted investor concerns over UBS' hasty acquisition of the embroiled Credit Suisse. UBS' ETF inflows were €1.3 billion ($1.44 million) in January and €964 million ($1.05 billion) in February before Swiss authorities coordinated the merger. With a combined asset base of €87.4 billion ($95.87 billion) and a market share of 6.4 percent, the merger of the Swiss banking giants will result in the fourth-largest ETF provider in Europe, just ahead of Vanguard.

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