View from the Observation Deck 

1. This marks the fifth calendar year (2015) in which we have tracked the asset growth of the four major types of packaged products since the close of 2007 (prior to financial crisis in 2008).
2. The percentage change in the total assets invested in packaged products from 12/31/07 to 12/31/15 were as follows (chart): Exchange-Traded Funds (ETFs) (+245%); UITs (+78%); Mutual Funds (+30%); and Closed-End Funds (-16%).
3. Total assets in each of the four major types featured in the chart changed as follows from 12/31/14 vs. 12/31/15: ETFs ($2.0 trillion vs. $2.1 trillion); UITs ($101.1 billion vs. $94.1 billion); Mutual Funds ($15.9 trillion vs. $15.7 trillion); and Closed-End Funds ($289.2 vs. $260.6 billion).
4. As indicated in the previous point, ETFs were the only structure of the four that registered an increase in total assets in 2015.
5. We have noted in previous blog posts that some industry pundits have predicted that ETFs, in time, will supplant mutual funds as the most popular packaged product. We intend to continue monitoring.

The chart and performance data referenced are for illustrative purposes only.

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