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Investing September 29, 2003
ICI: ETF Assets Increase to $117.38 in August
September 29, 2003 (PLANSPONSOR.com) - Assets in
exchange-traded funds (ETF) rose slightly in August to
$117.38 from $117.06 billion the previous month.
Reported by Eric Hazard
Increases were noted in the sector/industry ETFs, which went up to $15.18 billion in August from $14.61 billion in July.(See ETF Assets Fall To $117.06 Billion in July ). However, other components in the total domestic equity index dragged the index down to $104.55 billion from $104.89 billion the month before, according to data supplied by the Investment Company Institute (ICI).
Results among the other indices fared better. The Global/International Equity Index saw a net inflow of assets, ending August at $8.50 billion from $7.89 billion in July. Likewise, the Bond ETF index recorded a net asset inflow, closing August at $4.32 billion from $4.28 billion in the previous month.
Additionally, the value of ETF shares redeemed in August exceeded that of shares issued by $3 billion. The total number of ETFs remained steady at 114.
Shares of exchange traded fund trade intraday on stock exchanges at market determined prices. Investors may buy or sell ETF shares through a broker just as they would the shares of any publicly traded company (See Exchange-Traded Funds ).