Assets held in the burgeoning exchange-traded product/fund class received inflows of $60.19 billion last month globally. This brings year-to-date inflows into the products at $269.73 billion. The total amount invested in these products has reached a record high of $5.74 trillion.

The information comes from independent ETF consultancy ETFGI. Its founder Deborah Fuhr said: “The S&P 500 gained 1.4% in July, as strong earnings combined with signs of economic growth and expectations of a rate cut by the Federal Reserve supported equity gains.

“International markets posted losses, with the S&P Developed Ex-U.S. and the S&P Emerging BMI both down 1%, with headwinds including U.S. dollar strength. Boris Johnson began his term as U.K. Prime Minister with demands for a renegotiation of the E.U. withdrawal agreement, issuing a threat to otherwise leave without one. Pound sterling fell to near its lowest in two years.”

The exponential growth of ETFs/ETP displayed