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July 25, 2016 at 06:57 AM
U.S.-listed exchange-traded funds and products garnered net inflows of $17.7 billion in in June, bringing assets invested in these products to a record $2.3 trillion, ETFGI reported.
In the first half, ETFs/ETPs had net inflows of $66.3 billion, compared with $103 billion gathered during the same period last year.
Fixed income funds and products gathered the largest net inflows in June and for the first half with $7.5 billion and $44.6 billion, followed by commodity funds with $5.4 billion and $18.1 billion.
Equity funds had net new assets of $5 billion in June, but ended the first half with net outflows of $2.7 billion.
ETF/ETP average daily trading volumes increased by 24.2% from $68.9 billion in May to $85.6 billion in June.
iShares had the largest net ETF/ETP inflows in June with $11.1 billion, followed by Vanguard with $8.8 billion and Schwab ETFs with $1.9 billion net inflows.
At the end of June 2016, 1,931 funds and products from 97 providers were listed on three U.S. exchanges.
“Markets and investors around the world were engulfed in the chaos following what many saw as the unexpected result of the U.K.’s June 23 [Brexit] vote,” ETFGI managing partner Deborah Fuhr said in a statement.
Fuhr noted that volatility was up significantly during the month, and the S&P 500 index was up just 0.3%. Emerging markets were up 3.9%, while developed markets ex U.S. declined 2.9%.
