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Investing April 23, 2002
ETF Assets Up in March
April 23, 2002 (PLANSPONSOR.com) - Assets invested
in exchange traded funds (ETF) added up to $88.2 billion at
the close of March 2002, up 10% from the previous month's
total of $80.9 billion, according a report by the Investment
Company Institute (ICI).
Reported by Camilla Klein
The value of shares issued exceeded that of shares redeemed by $3.25 billion over the month. Gross issuance rose to $6.84 billion from $5.10 billion in February, and redemptions increased to $3.59 billion from $2.60 billion the previous month.
Broad-based domestic equity ETF assets edged up to $74.8 billion at the end of the month, from a February total of $68.95 billion, while domestic sector/industry funds were up to $9.55 billion, from $8.84 billion in February.
Global/international ETFs also rose over the month, reaching $8.86 billion from $3.10 billion a month earlier.
The ICI report includes 35 broad-based domestic equity ETFs, 33 domestic sector/industry focused funds, and 34 global/internationally-oriented ETFs.
An ETF is similar to a mutual fund, but trades like a
single stock. Like a mutual fund, an ETF is a basket of
stocks, most typically reflecting a particular index,
specific market or geographic sectors.