Bloomberg Talks
Robinhood Head of Investment Strategy Stephanie Guild Talks European Equities
26 Jan 2026
Chapter 1: What is the main topic discussed in this episode?
All right, let's get to the trade today. This has demand for exchange traded products focused on European equities was so strong last year in 2025 that they attracted a decade in a year of inflows.
Chapter 2: What factors contributed to the strong demand for European equities in 2025?
That's according to BlackRock's Ursula Marchionne, head of investment and portfolio solutions for EMEA at the world's largest asset manager. She caught up interview with Bloomberg TV this morning over with our European colleagues. Check it out.
from investors with historical own bias towards Europe that has to be rectified. But then on the flip side, from a more tactical perspective, there is this desire to diversify and remain exposed to the AI trade and to the US, but with some form of protection. And so we've seen last year the great repatriation trade with nearly 92 billion of flows going back into European equities ETPs.
If you compare it to the period 2014 to 2024, that was 94. So it's basically a decade in a year.
It's pretty remarkable. A decade in a year. That was BlackRock's Ursula Marchionne, head of investment portfolio solutions for EMEA. Let's get to the trade and today's trade and what she's seeing on the Robinhood platform. Stephanie Guild is with us, chief investment officer at Robinhood Markets.
Did that resonate with what you're seeing on the Robinhood platform or is that completely different than what you're seeing on the platform?
We, yeah, we haven't actually seen a ton of international take up, at least here in the US. We, you've seen a little bit in the Chinese tech aspect, like in names like BABA, but largely it's been a very US focused, you know, AI and lots of other investing themes focused over the last year.
Why do you think that is?
I think our customers take sort of a long-term view and they like to invest in things that they know and understand really no different than, you know, past generations. And I think they feel that they know and understand, you know, tech and can understand kind of the long-term secular growth trends that can come from parts of tech and are willing to take that risk.
You know, even if it's in the space like quantum computing, which is still, you know, in sort of discovery phase.
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