The sector, coming up for its 15th anniversary from when State Street launched the first “Spider” fund in the US, is humming. Spider is the short form of Standard & Poor’s Depository Receipt, or “SPDR”, the first exchange-traded fund that tracked the S&P 500 Index.
Morgan Stanley estimates that worldwide, as of end November 2007, there were 1,137 ETFs with 1,847 listings, assets of $773.2 billion, managed by 73 managers on 42 exchanges. The US has the largest number of products and assets under management: 583 ETFs and $550.2
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