Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Portfolio > Asset Managers

Q3 ETF Assets Up 7.2% From Year Ago: Broadridge

By Michael S. Fischer

X
Your article was successfully shared with the contacts you provided.

Exchange-traded fund assets grew by $144 billion, or 7.4%, in the year ended Sept. 30, Broadridge Financial Solutions reported Thursday.

During the same period, long-term mutual fund assets from third-party distributors declined by $156 billion, or 2%.

ETF assets across institutional and retail channels reached $2.1 trillion, while those of long-term mutual funds rose to $7.2 trillion.

Broadridge reported that retail channels, representing 63% of all ETF assets, drove the growth over the past year to Sept. 30, increasing by $150 billion, while institutional channels decreased by $6 billion.

RIAs led all retail channels, adding $46 billion in ETF assets. Wirehouses followed with $45 billion, and independent broker-dealers with $41 billion.

Over this period, long-term funds from retail channels were down by $199 billion, getting a boost only from the RIA channel, which added $29 billion. Assets from the institutional channels were up $43 billion.

“ETF assets continued year-on-year growth through the third-quarter, despite the worst stock market drop since 2008, with advisors accounting for the lion’s share of investment,” Frank Polefrone, senior vice president of Broadridge’s Access Data product suite, said in a statement. 

“This trend demonstrates the increased use of passive products. RIAs, which hold a higher percentage of passively managed funds, were the only retail channel with an increase of long-term fund assets over the last year.”

The report said retail channels increased assets across several ETF global product categories, as defined by Morningstar:

  • Fixed income, 23%
  • Allocation funds, 22%
  • Equity, 11%
  • Alternative, 5%

Assets held by the retail channels in two ETF categories declined: commodities by 18%, and convertibles by 9%.

In contrast, all global product categories for long-term funds showed a decrease in assets over this same period.  

— Check out ETFs: 4 Things Advisors Should Know Before Buying on ThinkAdvisor.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.