Exchange Traded Funds had a spring in their step in June, gathering assets worldwide and trading more frequently in the month, according to a recent Morgan Stanley report.
In June, assets under management increased 3%, or US$5.7 billion throughout the world from May. Assets of ETFs listed in the U.S. increased by 2%, or US$2 billion, while those in Europe jumped 6% or the equivalent of US$880 million. In Japan, assets jumped by 12% or US$2.38 billion.
Trading volume grew by 17% in terms of number of shares exchanged, with 196 million shares changing hands. In terms of dollar volume, ETFs grew 7% to US$8.9 billion.
There were six new ETFs launched globally in June, bringing the total to 289 ETFs with 381 listings on 27 exchanges around the world. Europe has the most ETFs with 122 of them, while the U.S. is a close second with 114. However, Europe has the largest number of managers at 15, and primary exchange platforms with 11. The U.S. has seven managers and four primary exchange platforms and Japan and Korea each have four managers.