AI theme bucks gloomy trend for European-domiciled thematic ETFs

March 15, 2024--Four of top six thematic funds by inflows this year have been AI vehicles, data shows
Investors pulled a record $533mn from European-domiciled thematic ETFs in February, according to data from ETFbook. The withdrawals added to the gloom from a poor 2023, when the sector bled $1.1bn, the first annual outflow after at least a decade of net buying

The numbers would have been worse still without the allure of artificial intelligence, however. Four of the top six thematic funds by inflows in the first two months of 2024 were AI vehicles, ETFbook data shows- not bad considering the continent only boasts five such ETFs with combined assets of $5.1bn.