ETF assets hit all-time high...again
Exchange-traded fund assets hit a record for the third month running, according to new statistics, which found that assets across all exchange-traded products have exceeded $1 trillion (€675bn) for the first time.
The global ETF industry managed $934bn at the end of September, up 4.8% from the end of August, according to the latest monthly statistics from Barclays Global Investors. Assets in other exchange-traded products, such as exchange-traded notes and commodities, rose 15% to hit $106bn - meaning the total figure across the board totalled $1.04 trillion, an all-time high for the industry.
The news marks a continuing resurgence for the industry. Debbie Fuhr is global head of ETF research and implementation strategy at BGI, and before the financial crisis she had a long-standing prediction in her monthly reports that ETF assets, excluding exchange-traded products, would hit $1 trillion by 2010.
She removed the prediction when markets plunged last year, but reinstated it last month, when she told Financial News: "ETF assets will go over $1 trillion this year, barring any other unforeseen events like last year."
Barclays' own ETF provider iShares remains the largest provider by a wide margin, with a global market share of 48%, followed by State Street Global Advisors with a 15% share, and Vanguard with 8%.
--write to pcraig@efinancialnews.com
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