WASHINGTON The Investment Company Institute, the mutual fund industry trade group, has begun reporting monthly net flows for exchange-traded funds.
An exchange-traded fund tracks a select number of stocks much as an index fund does and trades on stock exchanges at market-determined prices. The largest such fund is the Nasdaqs $24 billion-asset QQQ Fund, an index of the exchanges top securities, said John Jacobs, head of Nasdaqs financial products group.
Assets held in exchange-traded funds at yearend were reported to have risen 16.1% from two months earlier, to $65.6 billion.
Broad-based domestic exchange-traded funds held $58.1 billion, and sector funds accounted for $5.3 billion of that. Global funds held $2 billion, the institute said.
The first report was issued Thursday.