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US exchange-traded funds continued to grow at record pace in the first quarter, pulling in $132bn in investor cash and exceeding the previous record set in the fourth quarter of 2016, according to ETF provider State Street Global Advisors.
Fixed-income ETFs also set a new record with $35.5bn of inflows, marking their best quarter ever, surpassing the prior record set in the first quarter of 2016. For US equity ETFs it was the third-best quarter, with $96bn of inflows.
BlackRock iShares and Vanguard surpassed SSGA, attracting 40 per cent and 30 per cent respectively, compared to SSGA’s 8.6 per cent.
BlackRock iShares investment-grade corporate bond ETF (LQD) has had the biggest year-to-date inflow at $3.5bn, according to Bloomberg data, closely followed by three shorter-dated Vanguard bond ETFs. A number of floating-rate bond and loan ETFs also feature in the top 10.
For equities, iShares core MSCI emerging market ETF (IEMG) led the pack with $6.63bn of inflows.