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Global ETF assets hit USD1.45bn at end of July

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At the end of July 2011, the global ETF industry had 2,847 ETFs with 6,370 listings and assets of USD1,444.8bn, from 148 providers on 51 exchanges around the world, according to BlackRock’s latest industry review. This compares to 2,282 ETFs with 4,872 listings and assets of USD1,095.2bn from 124 providers on 42 exchanges at the end of July 2010.

ETF assets have increased by 0.1% from USD1,442.7bn in June 2011 to USD1,444.8bn in July 2011, compared to the 1.9% decrease in the MSCI World Index in US dollar terms.

USD22.6bn of net new assets went into ETFs/ETPs in July 20112. USD13.8bn net inflows went into equity ETFs/ETPs, of which USD11.9bn went into ETFs/ETPs providing exposure to developed market equities and USD1.9bn went into ETFs/ETPs providing exposure to emerging market indices.

USD3.1bn net inflows went into fixed income ETFs/ETPs, of which USD1.0bn went into ETFs/ETPs providing high yield exposure, while inflation linked ETFs/ETPs experienced USD0.3bn net outflows.

USD5.7bn net inflows went into commodity ETFs/ETPs, of which USD6.5bn net inflows went into ETFs/ETPs providing exposure to precious metals, while ETFs/ETPs providing exposure to energy experienced USD0.9bn net outflows.

Leveraged and inverse ETFs/ETPs experienced USD0.9bn net outflows, of which leveraged ETFs/ETPs experienced USD0.6bn net outflows and inverse ETFs/ETPs experienced USD0.3bn net outflows.

YTD through the end of July 2011, ETF assets have increased by 10.2% from USD1,311.3bn to USD1,444.8bn, which is greater than the 2.0% increase in the MSCI World Index in US dollar terms. This compares to a 5.7% increase in assets over the same period in 2010.

YTD through the end of July 2011, USD104.8bn of net new assets went into ETFs/ETPs1. USD65.8bn net inflows went into equity ETFs/ETPs, of which USD62.8bn net inflows went into ETFs/ETPs tracking developed market indices and USD3.1bn net inflows went into ETFs/ETPs tracking emerging market indices. USD22.8bn net inflows went into fixed income ETFs/ETPs, of which USD5.0bn went into corporate bond ETFs/ETPs, while money market ETFs/ETPs experienced USD0.6bn net outflows. USD12.1bn net inflows went into commodity ETFs/ETPs, of which ETFs/ETPs providing exposure to precious metals saw USD5.4bn net inflows while ETFs/ETPs providing exposure to energy saw net outflows of USD1.6bn.

USD5.2bn net inflows went into leveraged and inverse ETFs/ETPs, of which
USD3.9bn went into leveraged inverse ETFs/ETPs and USD1.8bn went into inverse ETFs/ETPs, while leveraged ETFs/ETPs experienced USD0.6bn net outflows.

YTD through the end of July 2011, USD104.8bn net new asset flows went into ETFs/ETPs, greater than the USD76.8bn net inflows over the same period in 20102. Net new asset flows into equity ETFs/ETPs were USD65.8bn YTD, greater than the USD32.3bn net inflows over the same period in 2010 while fixed income ETF/ETP net inflows were USD22.8bn YTD, less than the USD32.0bn net inflows over the same period in 2010. Net inflows into commodity ETFs/ETPs were USD12.1bn YTD, less than the USD12.7bn net inflows over the same period in 2010.

Globally, iShares is the largest ETF provider in terms of both number of products and assets, with 475 ETFs and USD618.1bn respectively, reflecting 42.8% market share; State Street Global Advisors is second with 137 ETFs, assets of USD204.0bn, and 14.1% market share; followed by Vanguard with 69 ETFs, assets of USD174.5bn and 12.1% market share; at the end of July 2011.

The top three ETF providers, out of 148, account for 69.0% of global ETF AUM, while the remaining 145 providers each have less than 4.0% market share. This compares to 70.6% market share in the top three out of 124 providers, at the end of July 2010.

14 new providers have entered the industry in 2011, launching their first ETFs, while 40 firms have indicated plans to launch their first ETF in the future. ETFs

In July 2011, the number of ETFs increased by 0.8% with 26 new ETFs launched, while four ETFs delisted. • YTD through the end of July 2011, the number of ETFs have increased by 15.7% with 419 new ETFs launched, while 12 ETFs have delisted and 20 ETFs have
merged. This compares to a 17.3% increase in the number of ETFs over the same period in 2010, when 368 new ETFs launched, while 33 ETFs delisted.

There are currently plans to launch 1,051 new ETFs compared to 970 at the end of July 2010.

The top 100 ETFs, out of 2,847, account for 61.8% of global ETF AUM. 245 ETFs have greater than USD1.0bn in assets, while 1,808 ETFs have less than USD100.0 Mn in assets, 1,465 ETFs have less than USD50.0 Mn in assets and 567 ETFs have less than USD10.0 Mn in assets.
Trading volume

In July 2011, the ETF average daily trading volume in US dollars is USD66.3bn. This compares to USD66.4bn in July 2010. Exchanges

YTD through the end of July 2011, the number of exchanges with official listings has increased from 46 to 51.

YTD 2011 global ETF/ETP flows are approximated by combining flows available for the United States, Europe, Canada and Latin America. Product level assets for ETPs listed in Israel are not currently available. An aggregate value has been included in the total assets. Latest data for Israel ETP assets sourced from Bank of Israel, June 2011.

YTD 2010 global ETF/ETP flows approximated by combining United States and European flows.

MSCI ranks first in terms of AUM and number of products tracking its benchmarks with assets of USD364.5bn and 455 ETFs reflecting 25.2% market share, while Standard & Poor’s (S&P) ranks second with USD321.4bn, 358 ETFs and 22.2% market share, followed by Barclays Capital with USD128.5bn, 99 ETFs and 8.9% market share.

Globally, net sales of mutual funds (excluding ETFs) were positive USD116.1bn, while net sales of ETFs were positive USD62.8bn, YTD through the end of May 2011 according to Strategic Insight.

Additionally, at the end of July 2011, there were 1,170 other ETPs with 1,806 listings and assets of USD198.3bn from 57 providers on 23 exchanges. This compares to 849 ETPs with 1,415 listings and assets of USD128.6bn from 47 providers on 20 exchanges, at the end of July 2010.
ETFs and ETPs

At the end of July 2011, combined, there were 4,017 products with 8,176 listings, assets of USD1,643.1bn from 183 providers on 54 exchanges around the world. This compares to 3,131 products with 6,287 listings, assets of USD1,223.7bn from 150 providers on 45 exchanges, at the end of July 2010.

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