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Exchange-Traded Funds Attract $5.6 Billion in Third Quarter


Exchange-traded funds attracted approximately $5.6 billion in net assets in the third quarter ended Sep. 30, according to preliminary estimates from Strategic Insight of New York.

Combined with the $17.6 billion in net assets that exchange-traded funds attracted in the first half of the year, these instruments have garnered $23.2 billion in net assets so far this year, according to Strategic Insight. Exchange-traded funds, which now have a total of $57.5 billion in assets, have experienced significant growth in 2000, according to Strategic Insight.

"The market for ETF's is becoming increasingly fragmented, however, as other stock markets [besides the American Stock Exchange] are getting involved in ETF trading," Strategic Insight said. "As a result, AMEX's exclusive hold on these products is loosening and their share of all ETF trading volume has decreased from nearly 100 percent in 1996 to about 80 percent today," the company said.