LAKE SUCCESS, N.Y.,
Oct. 29, 2015 /PRNewswire/
-- Exchange traded fund (ETF) assets grew by $144 billion, or 7.4 percent, in the year ending
September 30, 2015 -- largely driven
by retail channels, according to quarterly data released today by
Broadridge Financial Solutions, Inc., (NYSE: BR) via its Fund
Distribution Intelligence. During the same period, long-term mutual
fund assets from third party distributors declined by 2 percent, or
$156 billion.
"ETF assets continued year-on-year growth through the
third-quarter, despite the worst stock market drop since 2008, with
advisors accounting for the lion's share of investment," said
Frank Polefrone, senior vice
president of Broadridge's Access Data product suite. "This
trend demonstrates the increased use of passive products. RIAs,
which hold a higher percentage of passively managed funds, were the
only retail channel with an increase of long-term fund assets over
the last year."
Retail channels continued to generate the majority of ETF asset
growth, which now represent 63 percent of all ETF assets.
Registered investment advisors (RIAs) led all retail channels over
the past year ending September 30,
2015, adding $46 billion in
ETF assets, followed by wirehouses with $45
billion and independent broker dealers (IBDs) with
$41 billion. The only retail
channel with increased assets for long-term mutual funds over this
period was the RIA channel with an increase of $29 billion.
Retail channels increased assets across several ETF global
product categories, as defined by Morningstar, including fixed
income, 23 percent, allocation funds, 22 percent, equity, 11
percent, and alternative, 5 percent. The two ETF categories that
saw a decline in assets held by the retail channels were
commodities, 18 percent, and convertibles ETFs, 9 percent. In
contrast, all global product categories for long-term funds showed
a decrease in assets over this same period.
Additional findings:
- Total long-term mutual fund and ETF assets across retail and
institutional channels reached $7.2
trillion and $2.09 trillion,
respectively.
- On a year-to-date basis, total ETF assets increased by
$5 billion, or 0.2 percent, while
long-term funds sold through distributors decreased by $243 billion, or 3.3 percent.
- While retail ETF channels were up $150
billion over the past year, or 13 percent, ETF assets from
institutional channels decreased by $6
billion, or 1 percent.
- Long-term funds from retail channels were down by $199 billion over the past year, while assets
from the institutional channels were up $43
billion.
Broadridge's Fund Distribution Intelligence comprises the most
complete sales and asset data collection in the industry, creating
transparency into more than $9
trillion of long-term mutual fund and ETF assets across a
majority of mutual fund distributors.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR) is the leading
provider of investor communications and technology-driven solutions
for broker-dealers, banks, mutual funds and corporate issuers
globally. Broadridge's investor communications, securities
processing and managed services solutions help clients reduce their
capital investments in operations infrastructure, allowing them to
increase their focus on core business activities. With over
50 years of experience, Broadridge's infrastructure underpins proxy
voting services for over 90% of public companies and mutual funds
in North America, and processes on
average $5 trillion in fixed income
and equity trades per day. Broadridge employs approximately
7,400 full-time associates in 14 countries.
For more information about Broadridge, please visit
www.broadridge.com.
Media
Contacts:
|
|
|
|
Linda
Namias
|
Danielle
Pieri
|
Broadridge Financial
Solutions
|
Brainerd
Communicators, Inc.
|
+1
631-254-7711
|
+1
212-986-6667
|
linda.namias@broadridge.com
|
pieri@braincomm.com
|
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SOURCE Broadridge Financial Solutions, Inc.