ETF industry grew even amid market volatility

Exchange traded funds have fared relatively well during the financial crisis, but haven’t been immune to market volatility. At the end of last month, the global ETF industry encompassed 1,678 funds with 3,009 listings and assets of $706.87 billion from 90 providers on 43 exchanges around the world, according to a report from Barclays Global Investors in San Francisco. At the end of April 2008, the global ETF industry had 1,302 funds with 2,207 listings and assets of $805.46 billion from 79 providers on 42 exchanges around the world. For the year to date through April 30, assets in ETFs worldwide had fallen by 0.5%. But the number of ETFs increased by 5.6% with 109 new funds launched. There are plans to launch 756 new ETFs, according to the report. Globally, the iShares ETF group distributed by Barclays is the largest provider in terms of both number of products with 381 funds and assets of $336.17 billion, reflecting a 47.6% market share. Coming in second was State Street Global Advisors of Boston with 104 products and assets of $110.14 billion, reflecting 15.6% of the market. In third place was The Vanguard Group Inc. of Malvern, Pa., with 39 products and assets of $51.04 billion and a 7.2% market share.