The Markets January 11, 2013

ETFs Have Record Year in 2012

U.S. exchange-traded fund (ETF) assets increased by $292.7 billion or 28% in 2012.
Reported by

According to data from State Street Global Advisors (SSgA), this growth was driven by more than just market returns—ETFs had positive cash flows of $182.6 billion in 2012, which marks a new all-time high for the industry. In December, U.S. ETF inflows topped $28 billion, as investors poured $15.6 billion of new inflows into large cap ETFs and $8.4 billion into emerging market ETFs.    

SSgA’s ETF Snapshot reports says 1,241 ETFs, with assets totaling $1.3 trillion, were managed by 38 ETF managers as of December 31. During December, ETF assets increased $39 billion, or 3%.  

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The S&P 500 returned 0.9%, while the MSCI EAFE increased 3.2%. Commodities were negative, with the S&P GSCI down 0.7% and Gold dropping 4.0%. U.S. Bonds were negative, with the Barclays US Treasury Index and the Barclays US Aggregate Index dipping 0.1% and 0.4%, respectively.  

The top ETF managers in the U.S. ETF marketplace were BlackRock, State Street and Vanguard. Collectively, they account for approximately 84% of the U.S.-listed ETF market.

Deals & People January 11, 2013

Tortoise Capital Names Managing Director

Brad Adams has been promoted to managing director of Tortoise Capital Advisors LLC in Leawood, Kansas.
Reported by

In his new position, Adams oversees Tortoise’s financial operations team and is chief financial officer for the company’s closed-end funds. During his seven years with Tortoise, Adams has served in key roles supporting the launch of numerous closed-end fund equity and debt offerings.

Adams has more than 28 years of experience in financial services. Before joining Tortoise, he was a financial services industry consultant, and vice president of finance and operations, chief operating officer and director of Jones & Babson Inc.

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Adams holds a bachelor’s degree in finance from the University of Wyoming and a master’s degree in business administration from Rockhurst University in Kansas City, Missouri.

Tortoise Capital is an investment manager specializing in listed energy investments with approximately $9.2 billion of assets under management.

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