Assets in managed accounts surged forward in 2007, with exchange traded funds (ETFs) fueling much of the growth.
Around 291 exchange traded funds (ETFs) were launched last year in the United States, and captured $146 billion in net inflows. That’s up 126% from 2006.
Managed account assets hit the $1.49 trillion mark, says the Money Management Institute. ETFs made up $10.1 billion of those dollars, up from $6.8 billion in 2006, reports Darla Mercado for Investment News.
Customer demand has gone through the roof, as this was the fastest-growing managed account area. Variable product asset growth fell behind mutual funds and ETFs alike.
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