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Investing May 28, 2003
ICI: ETFs Continue Asset Gain In April
May 28, 2003 (PLANSPONSOR.com) - Assets in
exchange-traded funds (ETF) rose to $110.48 billion in April
from $100.83 billion the previous month.
Reported by Eric Hazard
ETFs saw total domestic equity index assets rise to $101.55 billion in April from $92.00 billion in March (See ETFs Gain Assets in March ). Likewise, gains were seen in broad-based domestic ETFs, increasing to $88.49 billion from $80.28 billion, according to data supplied by the Investment Company Institute (ICI).
Rounding out the fund types with expansions in April were sector/industry domestic ETFs which increased their asset base to $13.06 billion, and global/international ETFs which expanded to $5.64 billion. Otherwise, the only category to see a decrease in total assets was bond ETFs, which slipped to $3.26 billion in April form $3.67 billion in March.
Additionally, the value of ETF shares issued in April exceeded that of shares redeemed by $1.80 billion and the total number of ETFs expanded to 118 from 114. The expansion was due to three new broad-based and one new global/international addition.
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 also Exchange-Traded Funds ).