At the end of August, the U.S. exchange traded products industry, including ETFs and exchange traded notes (ETNs) was home to nearly 1,800 products trading across three exchanges with over $2 trillion in combined assets under management.
However, it is not just assets and products that are growing by leaps and bounds. The number of companies getting into the ETF business is also growing in significant fashion.
"Nineteen new ETF/ETP providers have entered the ETF industry in the United States during the first 9 months of 2015, beating the prior full year records of 15 new providers entering the ETF industry in both 2014 and 2009," according to ETFGI, a London-based ETF research firm.
A noteworthy trait found among many new ETF providers is superior brand recognition and/or the backing of "star power," which has enabled some of 2015's rookie ETFs to be successful right of the gates. For example, the SPDR DoubleLine Total Return Tactical ETF (NYSE: TOTL) is issued by State Street Global Advisors in partnership with bond king Jeff Gundlach's DoubleLine Capital. Investors know and respect Gundlach and that has helped TOTL become 2015's most successful new ETF with over $1.22 billion in assets.
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