GLOBAL - The total asset value of the 313 exchange traded funds (ETFs) world-wide at the end of August was US$240bn (e195bn), according to financial adviser Morgan Stanley.
The US has the largest number of products, valued at US$174.2bn, followed by Europe with US$25.3bn and Japan with US$26.1bn, Morgan Stanley said in its global summary report.
ETFs are open-end mutual funds that trade on exchanges.
In August, assets under management rose by 1.9% with Europe up 3.3%, the US up 1.6% and Japan dropping 1.5%.
According to the Morgan Stanley report, Barclays Global Investors is the largest ETF manager globally with assets of US$94.2bn or 39.25% market share followed by State Street Global Advisors with US$65.6bn (market share 27.33%).
This year, 35 ETFs have been launched and four delisted – two in Korea, one in Japan and one in Europe, the report stated.
There are 68 ETFs in the pipeline, 13 planned in Europe, 53 in the US and 2 in China.
Two of the 17 ETFs in Japan – the Nomura FTSE and iShares TOPIX ETF - are in the process of being delisted, Morgan Stanley said.
Nomura Asset Management is the largest manager of ETFs in Japan, with US$15.7bn or 60.3% of AUM.
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