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Investing September 2, 2003
ICI: ETF Assets Fall To $117.06 Billion in July
September 2, 2003 (PLANSPONSOR.com) - Assets in
exchange-traded funds (ETF) fell to $117.06 billion in July
from $121.57 billion the previous month.
Reported by Eric Hazard
Declines were noted in the total domestic equity, which fell to $104.89 billion in July from $109.59 billion in June (See ICI: ETF Assets Expand To $121.57 Billion In June ). Results were mixed among the Index’s components, as broad-based domestic ETFs dropped to $90.28 billion and sector/industry ETFs were up slightly to $14.61 billion, according to data supplied by the Investment Company Institute (ICI).
Likewise the results were mixed among the other indices. The Global/International Equity Index saw a net outflow of assets, ending July at $7.89 billion from $8.12 billion in June. Conversely, the Bond ETF index recorded a net asset inflow, closing July at $4.28 billion from $3.87 billion in the previous month.
Additionally, the value of ETF shares redeemed in July exceeded that of shares issued by $7 billion. The total number of ETFs remained steady at 114.
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 Exchange-Traded Funds ).