new entrants to the European ETF marketplace with a number of others indicating their intention to do so in 2011. At year-end 2010, there were 1,071 ETFs listed in Europe, with assets of approximately US$284bn, reflecting a significant increase in both the number and assets of ETFs from the 2009 year-end position where there were 827 ETFs with assets of US$226.9bn.

As we move into their second decade, we see a product that has experienced a number of changes in terms of the asset class exposure being generated, how exposure is being generated and who is generating it. Here we take a look at the legal and regulatory environment that has facilitated these changes and allowed these products to thrive and develop.

Please click on the pdf icon to download the complete article.