Investing March 25, 2004

ICI: ETFs Gain $3.7B in February

March 25, 2004 (PLANSPONSOR.com) - Exchange-traded funds (ETF) added more assets in February, swelling by more than $3 billion for the month.
Reported by

Increases were noted across all ETF categories as total assets in the funds reached $159.53 billion in February from $155.82 the month before (See ETFs See Modest January Advance ).   The Total Domestic Equity Index gained $2.13 billion in assets in February to close at $136.23 billion, followed by the Global/International Equity Index adding $1.39 billion, closing at $17.85 billion, and the Bond Index adding $296 million, ending February with an aggregate of $5.45 billion, according to data supplied by the Investment Company Institute (ICI).

Additionally, the value of ETF shares issued in February exceeded that of shares redeemed by $1.99 billion.  The total number of ETFs remains steady at 132.

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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    Black Box: Exchange-Traded Funds).

Deals and People March 24, 2004

Delaware Announces New Large Cap Value Managers

March 24, 2004 (PLANSPONSOR.com) - Delaware Investments has announced the arrival of four large cap value equity investment managers and the appointment of a new head of equity investments.
Reported by

Delaware announced the arrival of Ty Nutt, Robert Vogel, Anthony Lombardi and Jordan Irving in the new investment manager roles. The four large cap value equity investment mangers join Delaware from similar positions at Merrill Lynch Investment Managers, according to a news release.

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Signing up as the new Head of Equity Investments is Patrick Coyne, who has served as an investment professional at the firm since 1989, including serving last year as Delaware’s co-head of Fixed Income team. In the new role, Coyne oversees the firm’s domestic equity asset management teams.

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