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Swap ETFs, SocGen’s Lyxor Have Record Outflows Amid Crisis

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Investors pulled the most money in at least two years from European exchange-traded funds that use derivatives to track asset performance, moving record amounts into ETFs backed by physical bonds and shares instead.

About 2 billion euros ($2.8 billion) of net withdrawals were incurred by the five largest providers of synthetic ETFs last quarter, with the steepest outflows from Societe Generale SA’s Lyxor Asset Management, according to Deutsche Bank AG, which has compiled the data since 2009. Another 1.2 billion euros left those firms through the third week of October.