Assets in exchange-traded funds rose 20% in the last nine months, buoyed, perhaps, by the continuing fallout from the mutual fund scandal.

In its monthly report on ETFs, the Investment Company Institute found that assets grew to $180.8 billion compared to $151 billion at the end of 2003. The $180.8 billion represents a 3.6% increase from last month, when ETF assets stood at $174.5 billion.

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