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Five funds launched for US ETF industry


There were five exchange-traded funds launched in the US ETF industry during the week ending 28 September, according to Deutsche Bank researchers Shan Lan and Aram Flores.

BGI launched three new ETFs: iShares Russell Top 200 Index Fund, iShares Russell Top 200 Value Index Fund and iShares Russell Top 200 Growth Index Fund. State Street Global Advisers launched one fixed income ETF, the SPDR S&P VRDO Municipal Bond ETF, and United States Commodity Funds launched one commodity ETF, the US Short Oil Fund. All the ETFs are listed on NYSE Arca.

US ETF turnover remained at about the same level at USD56.5bn during the week. Turnover in the S&P 500 SPDR was USD18.4bn. The PowerShares QQQ Nasdaq 100 had turnover of USD4.0bn followed by the iShares Russell 2000 with turnover of USD2.6bn.

Average daily turnover in the large cap, US sector, leveraged and global regional products was USD24.1bn (-1.4 per cent), USD8.6bn (-0.1 per cent), USD8.3bn (-0.7 per cent) and USD3.9bn (2.1 per cent) respectively.

Among the emerging country ETFs, iShares MSCI Brazil ETF turnover was USD932m followed by iShares FTSE/Xinhua China ETF with turnover of USD830m. In non-US developed market flows, iShares MSCI Japan had turnover of USD322m. In non-domestic regional flows, emerging market turnover was USD2.6bn and developed markets regional flows EAFE had turnover of USD1.1bn.

Total assets under management for equity based ETFs remained at about the same level at USD548.3bn.

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