Tags: ETF | Outflow | August | History

ETF Outflows in August Were Largest in History

Wednesday, 04 Sep 2013 03:08 PM

 

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Investors pulled more than $17 billion from U.S.-listed exchange-traded funds in August, the largest monthly outflow in the 20-year history of the ETF industry, data firm IndexUniverse said on Wednesday.

The asset management arm at Boston-based State Street Corp experienced the heaviest redemptions among ETF sponsors with $19.5 billion in outflows during August, IndexUniverse said. Most of that amount, $14 billion, was pulled from the SPDR S&P 500 ETF, as jittery investors worried about the stock market.

BlackRock Inc., the No. 1 U.S. ETF company, experienced net outflows of $4.3 billion, IndexUniverse said. BlackRock oversees about $588 billion in ETF assets. State Street Global Advisors, the State Street unit, is No. 2 with about $338 billion in ETF assets under management.

In contrast, Vanguard Group, the No. 1 U.S. mutual fund company and No. 3 ETF provider, experienced ETF net deposits of nearly $3.8 billion, giving the company about $290 billion in ETF assets under management, IndexUniverse said.

© 2014 Thomson/Reuters. All rights reserved.

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