22nd June 2010
It's a remarkable thought, but it's now been ten years since the very first exchange traded funds were listed on the London Stock Exchange.
In those dark days at the turn of the century, with a ferocious stock market crisis snapping at their heels, ETFs were thought of at the time as a quick and stripped-down way for seasoned investors to get round the dominance of expensive unit trusts and investment trusts.
It's rather doubtful how many people ever expected them to catch on with the wider investing public.
But here we are in 2010, with more than 850 ETFs listed by the LSE, and with an expected worldwide asset base of maybe a trillion dollars.