BlackRock Inc.s US exchange-traded fund business attracted more than $25 billion in November, a record monthly haul for the company. The flow figures were reported by Morningstar Inc, and confirmed by BlackRock spokeswoman Melissa Garville. New York-based BlackRock is the worlds largest money manager and biggest provider of ETFs. “Were also seeing strong flows in December,” Garville said in an email.
The gains for BlackRock came in a month when investors bailed out of actively managed funds and piled into passive vehicles amid spikes in market volatility. Active funds had outflows of $57.4 billion in November while passive funds, a mix of index mutual funds and ETFs, attracted $55.9 billion, according to data from Morningstar.