Amundi: ETF investors favor global and emerging equities in November
18 DEC, 2025
By Joanna Piwko from RankiaPro Europe
ETF investors increased exposure to global and emerging-market equities in November, as concerns over interest-rate uncertainty and technology stock valuations encouraged broader diversification.
According to Amundi's monthly flow data as of 30 November 2025, European UCITS equity ETFs attracted €14.9 billion, while fixed-income ETFs gathered €7.4 billion, confirming sustained investor appetite for diversified portfolios.
Global equity indices led equity inflows with €4.7 billion, followed closely by emerging markets at €4.3 billion, supported by a weaker U.S. dollar and strong performance in Asian technology and commodity-linked economies. European equities remained the top category year-to-date, recording €4.1 billion in net new assets in November and €60.3 billion so far in 2025.
In contrast, U.S. equities saw outflows of €979 million, as uncertainty around the Federal Reserve and the outlook for technology stocks weighed on sentiment.
In fixed income, investors favored quality assets, with investment-grade corporate bonds attracting €2.7 billion and government bonds €2.5 billion. Money market ETFs also continued to draw inflows, reflecting ongoing caution amid rate uncertainty.
ESG strategies remained in demand, with €3.2 billion flowing into equity ESG ETFs and €2.2 billion into fixed-income ESG products, led by investment-grade corporate credit.
