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September 16, 2008 at 08:00 PM
State Street reported that as of August 31, there were 710 exchange traded funds available in the U.S. offered by 24 ETF managers; two new individual ETFs were launched in August, State Street reported, and one new manager joined the fray. ETF industry assets grew $4.7 billion in August to reach a total of approximately $582 billion.
By contrast, the Investment Company Institute reported at the end of July that total assets in the nation’s 8,073 mutual funds decreased by $91.5 billion in the month to settle at $11.588 trillion.
