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.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.