Investors in the UK and Europe have been piling into exchange traded funds in the past year as outflows have risen from hedge funds and traditional long only funds.
BGI iShares, the biggest ETF provider, attracted net new assets of $25bn (£16bn, €18bn) in Europe in 2008, up more than 200 per cent on net inflows of $7.5bn in 2007. This offset the effect of falling markets on assets under management, which ended the year at $56bn, down from $58bn a year earlier.
Globally, net inflows increased to $89bn from $70bn the year before, but total assets declined from $403bn to $325bn.
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