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ETF Assets Rise by $14.36 billion
July 3, 2008
SAN DIEGO (ETFguide.com) - Despite subpar performance for broad domestic and international stock indexes so far in 2008, the level of investment in exchange-traded funds (ETFs) continues to grow.
According to the Investment Company Institute (ICI), the combined assets of U.S. exchange-traded funds rose $14.36 billion to $610.31 billion in May.
This is a 2.4% increase compared to last month and an increase of 25.7% or $124.80 billion compared to May 2007, when ETF assets were $485.51 billion.
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During May, the value of all ETF shares issued exceeded that of shares redeemed by $3.21 billion. In May 2007, ETFs have experienced a net issuance of $5.44 billion.
The Investment Company Institute (ICI) is a national association of U.S. registered investment companies.
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