Exchange traded funds (ETF) around the globe saw assets increase by 35% in 2002 while the number of funds was up by 39%, according to Morgan Stanley research.

The largest increase was seen in Japan, where assets more than doubled to $21bn, followed by Europe, and the US, which saw an increase by 21% to $102.28bn. Globally assets into ETFs grew to $141.62bn (€130.29bn) from $104.8bn.