Credit: Shutterstock photoInvestors kept on pouring money into the iShares MSCI Emerging Markets Index Fund (NYSEArca:EEM), in the aftermath to Vanguard's announcement in early October that its giant emerging markets fund that competes with EEM would stop using the same index as the iShares fund sometime next year.
EEM added $1.76 billion in the week ended Thursday Jan. 3, and overall almost $15 billion flowed into U.S.-listed ETFs , according to data compiled by IndexUniverse. Total assets now total more than $1.384 trillion, a record, as rising markets in the wake of Congress's "fiscal cliff" agreement pushed the total higher.
ETF industry sources have argued that the positive flows for EEM relative to the Vanguard MSCI Emerging Markets ETF (NYSEArca:VWO))-essentially a reversal of a broad pattern of the past few years-might be related to the fact that institutions still favor MSCI benchmarks.
That would mean VWO, which next year will stop using the MSCI Emerging Markets Index that EEM uses, could be falling out of favor among large investors who are preparing for the change.
The phenomenon helped EEM's asset gathering in 2012 match that of VWO, which each of the huge emerging markets funds gathering about $10.5 billion in fresh assets.
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Disclaimer:All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.
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