President Donald Trump’s election led to a boom in the stock market and a resulting surge of money into the investment funds.
In fact, since the Republican’s victory — Wednesday will mark the one-year anniversary — assets under management for mutual and exchange-traded funds surged about 16 percent, or $2.9 trillion, to $21.1 trillion, according to figures Thomson Reuters released Tuesday.
That total combines inflows and returns, which have been substantial. The Dow industrials are up 29 percent over the past 12 months, while the broader S&P 500 is 21.6 percent higher.
“Performance has been the primary contributor to asset accretion since the 2016 presidential election,” Thomson Reuters said in an analysis.