The combined assets of exchange-traded funds fell just shy of $160 billion in December, topping November's inflow of $132.7 billion and increasing nearly 50% on December 2002's inflow of $102.1 billion, according to the ICI.

ETF shares issued exceeded those that were redeemed by $12.6 billion. ETFs are more tax efficient than most mutual funds, and feature low operating and transaction costs, with no sales loads or minimum investment requirements.

Copyright 2004 Thomson Media Inc. All Rights Reserved.

http://www.thomsonmedia.com http://www.mmexecutive.com

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.