For all the headline grabbing that hedge funds and exchange-traded funds have done over the last few years, their pace of growth remains surprisingly far behind that of everyday mutual funds.

Citing data from the Investment Company Institute in Washington, Bloomberg News columnist Chet Currier reports that as of mid-2005 assets of worldwide mutual funds was $16.4 trillion, up from the $14.5 trillion during the same period last year. That increase is greater than the total $1 trillion managed by hedge funds and the $360 million in ETF assets combined.

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