Sept 4 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
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.