German asset manager DWS has become the first European headquartered ETP business to break through the €100bn assets under management (AUM) barrier.
The 170-strong Xtrackers range has €104.9bn AUM listed across 11 exchanges globally, as at the end of Q3, with €91bn listed in Europe.
The German asset manager remains some way off BlackRock in Europe, which has €375bn AUM, however, it has moved a long way ahead of Lyxor in third, which has €71bn AUM.
DWS entered the European ETF market in 2007 as a specialist in swap-based index replication.
Subsequently, in June 2017, the range underwent a rebrand changing from db X-Trackers to Xtrackers.
Commenting on the milestone, Manooj Mistry (pictured), global head of index investing at DWS, said: “Since launching our first ETFs in 2007 we have been committed to offering quality tracking products to investors across the globe. That focus on the investor will always be our driver.”
Simon Klein, head of passive sales, Europe and Asia-Pacific at DWS, added: “Xtrackers has met this important milestone at a time when we continue to evolve to meet the aspirations of our clients.
“Many large investors today, for example, have a focus on stewardship, which is now an integral part of our investment process.”