Global assets invested in exchange-traded funds and exchange-traded products reached a record $1.76 trillion through the end of August 2012, notching a 15.5% growth through the first eight months of this year, up from $1.53 trillion at the end of 2011, according to data from ETFGI LLP, a London-based independent research and consulting firm.

The record level should come as little surprise to many investors and financial advisors who have watched the upstart ETF and ETP industry’s dramatic asset growth over the past several years—growth that has often come at the expense of traditional investments like mutual funds. Over the past 10 years, the compounded annual growth rate of ETFs and ETPs globally has been 26.5%. And now there are currently 4,713 ETFs and ETPs, with 9,620 listings, offered from 204 providers on 56 global exchanges, according to ETFGI.

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