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Global ETF assets rise by 0.9 per cent

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Global exchange-traded fund assets hit an all time high of USD942bn at the end of October 2009 – 0.9 per cent above the previous all time high of USD933bn set in Q3 2009, according to a report by BlackRock.

At the end of October 2009, the global ETF industry had 1,859 ETFs with 3,327 listings, assets of USD941.85bn, from 97 providers on 40 exchanges around the world.

Year-to-date assets have risen by 32.5 per cent which is more than the 20.2 per cent rise in the MSCI World Index in US dollar terms.

The number of ETFs has increased by 16.8 per cent with 337 new ETFs launched, while 73 ETFs were closed. There are currently plans to launch 805 new ETFs.

In 2009 the number of ETFs listed in Europe has surpassed the US with 801 ETFs listed in Europe, compared to 732 in the US.

Year-to-date the average daily trading volume in US dollars decreased by 7.7 per cent to USD74.4bn.

MSCI ranks first in terms of ETF assets under management tied to their benchmarks with assets of USD222.66nn and 267 ETFs, while Standard & Poor’s ranks second with USD218.83bn and 229 ETFs, followed by Barclays Capital in third with USD81.33bn and 62 ETFs.

Globally, iShares is the largest ETF provider in terms of both number of products, 405 ETFs, and assets of USD455.72bn, reflecting 48.4 per cent market share; State Street Global Advisors is second with 106 products and USD137.08bn, 14.6 per cent market share; followed by Vanguard with 40 products and assets of USD80.76bn and 8.6 per cent market share at the end of October 2009.

Globally, net sales of mutual funds (excluding ETFs) were USD13.3bn, while net sales of ETFs were USD93.8bn during the first nine months of 2009, according to Strategic Insight.

Over the five year market cycle from mid-year 2004 to mid-year 2009, S&P 500 outperformed 63.0 per cent of actively managed large-cap funds, S&P MidCap 400 outperformed 73.5 per cent of mid-cap funds and S&P SmallCap 600 outperformed 67.7 per cent of small-cap funds. The script was similar for non-US equity funds, in which indices outperformed a majority of actively managed non-US equity funds over the past five years.

Additionally, there were 569 other exchange-traded products with assets of USD137.70bn from 40 providers on 19 exchanges.

Combined, there were 2,428 products with 4,166 listings, assets of USD1,081.54bn from 124 providers on 43 exchanges around the world at the end of October 2009.

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