ETF Assets Increased $84B in September

U.S. ETF industry assets increased $84.8 billion (10.6%) in September, according to State Street Global Advisors (SSgA).

According to SSgA data, gains in the Size and International categories accounted for the majority of the total September advance in ETF AUM. The Dividend/Fundamental category climbed 20.4%, or $4.1 billion.

Year to date, areas with significant positive asset growth are Commodities: up $16.4 billion, Fixed Income: up $33.1 billion, and Dividend/Fundamental: up $8.5 billion. Large Cap assets rose $25.8 billion, followed by Mid Cap, up $3.1 billion, State Street said.  

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Technology, Energy, and Materials each rose more than $1 billion in absolute terms. All 10 sectors gained for the month. In particular, Information Technology was up 12.1%, Industrials were up 11.4%, and Consumer Discretionary was up 11.1%.

Meanwhile, according to State Street, the top three managers in the U.S. ETF marketplace were BlackRock, State Street, and Vanguard, which collectively accounted for approximately 84% of the U.S.-listed ETF market.

The top three ETFs in terms of dollar volume traded for the month were the SPDR S&P 500 [SPY], iShares Russell 2000 [IWM], and PowerShares QQQ [QQQQ].

RiverFront Adds Regional Sales Consultant

In a continuing effort to grow its business development team, Richmond, Virginia-based RiverFront Investment Group has hired Rutherfoord Ferguson.

Ferguson has been consulting advisers on their clients’ financial plans and practice management solutions for more than ten years.   He’s worked for Wealthcare Capital Management and Wachovia Securities.  He will report to Stuart Porterfield, Regional Director of the Business Development Group.

“His tenure in the business and strong background in serving the complex needs of financial advisers is exactly what RiverFront was looking for as we continue to expand our Business Development efforts,” said Pete Quinn, Founding Partner and Chief Operating Officer.   

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RiverFront Investment Group is a registered investment adviser that manages more than $2.1 billion in a series of global tactical asset allocation separate account and mutual fund portfolios.

 

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