News Flash- ETFs Take in $5.7 Billion In June, Morgan Reports
July 14, 2003
Exchange-traded funds had a spring in their step in June, gathering assets worldwide and trading more frequently in the month, according to a recent Morgan Stanley report.
Assets under management during the month increased 3%, or $5.7 billion, from May. Assets of ETFs listed in the U.S. increased by 2%, or $2 billion, while those in Europe jumped 6% or the equivalent of $880 million. In Japan, assets jumped by 12% or $2.38 billion. Trading volume grew by 17% in terms of number of shares exchanged, with 196 million shares changing hands.
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