According to the Investment Company Institute (ICI), the combined assets of the nation's exchange-traded funds (ETFs) increased 13% in 2006 to $335.1 billion at June 30, 2006. The number of exchange-traded funds continued to outpace the growth of assets as a number of new financial institutions have entered the market in 2006. The number of ETFs rose 31% to 263.
Assets of equity-based ETFs also increased 13% to $317.5 billion with assets of international equity funds growing at a 27% clip to $82.8 billion. The number of domestic equity ETFs grew 33% to 194 funds while international equity ETFs increased 29% to 63.
The growth in the net assets of ETFs was double that of the traditional mutual fund industry. According to ICI, assets for stock mutual funds increased 6% to $5,248.9 billion as of June 30, 2006.
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