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Investing August 25, 2004
July ETFs Give Up Ground
August 25, 2004 (PLANSPONSOR.com) - Exchange-traded
funds (ETFs) lost assets in July, shedding $6.41 billion or
3.5%, with fixed income ETFs the only winners during the
period.
Reported by Fred Schneyer
July’s total ETF assets ended at $142.8 billion, according to data supplied by the Investment Company Institute (ICI).
The Bond index rose $298 million to $7 billion, the only component in the black in July, according to ICI. Meanwhile, the Total Domestic Equity Index gave up $6.68 billion or 4.4% to end July at $142.8 billion, followed by the Global/International Equity Index down slightly to $22.23 billion.
Additionally, the value of ETF shares issued in July exceeded that of shares redeemed by $783 million. The total number of ETFs was 143.
Shares of exchange traded funds 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 ).
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