New ETF Assets Continue to Bail out Fund Industry
October 28th at 1:00pm by Tom Lydon
If it weren’t for money flowing into exchange traded funds (ETFs), the mutual fund industry would continue to loose assets. ETF providers Barclays Global Investors and State Street Global Advisors pulled in the most money during the month of September among asset managers into U.S. stock and bond mutual funds, Reuters reports. Barclays saw net inflows at $9.5 billion and State Street $6.8 billion, making them the top two ETF players thus far. Putnam Investments and American Century Investments experienced the biggest outflows this month.
This is not a new phenomenon, as many old line fund companies continue to struggle to attract new money. ETFs aren’t your fathers mutual funds.
