ETFs attract US$3.5 billion investment in June alone « Mining Blog

ETFs attract US$3.5 billion investment in June alone

6. August 2011,

According to the fund tracking website, IndexUniverse.com
(3 August 2011), investors funnelled $3.5bn into gold ETFs (Exchange Traded Funds) in June alone, “concerned about the debt ceiling debacle in the U.S”.

The biggest gold ETF, the $65 billion SPDR Gold Trust managed by State Street , added $2.9 billion of net inflow, while BlackRock’s $8 billion iShares Gold Trust took in $632 million.

Only the $85 billion SPDR S&P 500 ETF , which has by far the largest trading volume of any ETF, took in more than the SPDR Gold fund, gaining $3.3 billion in the month.

Overall for July, investors added a net $13.2 billion to exchange-traded funds. All major categories got substantial inflow, including U.S. and international equity, fixed-income and commodities, the website said.

Among fund firms, State Street, the second-largest U.S. ETF manager, took in a net $5.8 billion, the most of any manager. Boston-based State Street surpassed BlackRock , the largest U.S. ETF manager, which took in $1.9 billion.

Invesco’s Powershares unit took in $2.2 billion largely on the strength of its Powershares QQQ fund.

Vanguard Group got $1.3 billion during the month.

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