Assets under management among exchange-traded funds (ETFs) increased by 11% to almost $12bn (€10bn) in the first two months of 2003, but the rate of growth slowed compared with previous months.

In the US ETF assets under management stagnated and assets in Japan declined by $1.2bn to $19.7bn. Average daily trading is up 34% in number of shares and 40% in the dollar volume since the end of 2002, globally.