ETF flows in the second quarter continued at almost the same torrid pace as they did in the first quarter and seem well on their way to adding $200 billion in new investor funds in 2013, according to Nicholas Colas, chief market strategist at New York-based ConvergEx Group. Flows into equity products are 60% of total this quarter to date, lower than the 80% of Q1 2013, he said.

Japan is the white-hot ticket among country-specific investing, with almost 25% of all ETF flows this quarter going into just two such products, Colas said.

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