ICI: ETFs Add $3.66 Billion in November

December 29, 2003 (PLANSPONSOR.com) - Exchange-traded funds (ETF) added even more assets in November, swelling by more than $3 billion for the month.

Increases were noted in the broad-based ETFs, which went up to $100.06 billion in November from $98.29 billion in October (SeeETF Ranks Continue to Swell in October).  Further, sector/industry ETFs gained assets to reach a record level of $16.46 billion and helped propel the total domestic equity index to a total asset amount of $116.52 billion from $114.21 billion the month before, according to data supplied by the Investment Company Institute (ICI).

Results among the other indices were mixed.  The Global/International Equity Index saw a net inflow of assets, ending November at $11.95 billion from $10.53 billion in October.  Conversely, the Bond ETF index recorded a net asset outflow, closing November at $4.25 billion from $4.32 billion in the previous month.

Additionally, the value of ETF shares issued in November exceeded that of shares redeemed by $2.14 billion.  The total number of ETFs was up by one to 118.

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 ).