Exchange traded funds and products continued to grow their assets and inflows in June, with market volatility not dampening appetite, figures show.

Exchange traded funds and products listed in the Asia-Pacific region (but excluding Japan) pulled in $3 billion in net assets during June. Globally, assets scaled new heights of $3.177 trillion, according to ETFGI, a research and consultancy firm.

From the global total, assets of ETFs and ETPs in the US reached $2.256 trillion; in Japan they hit $147.67 billion; in Canada, $79.42 billion.

At the end of June 2016, the Asia-Pacific ex-Japan ETF/ETP industry had 873 ETFs/ETPs, with 1,023 listings, assets of $123 billion, from 116 providers listed on 18 exchanges in 14 countries.

ETFs are typically open-ended, index-based funds, with active ETFs accounting for 1.1 per cent market share. They can be bought and sold like ordinary shares on a stock exchange and offer broad exposure across developed, emerging and frontier markets, equities, fixed income and commodities. ETPs are products that have similarities to ETFs in the way they trade and settle but do not use an open-end fund structure. The use of other structures including unsecured debt, grantor trusts, partnerships, and commodity pools by ETPs can, in addition to a significantly different risk profile, create different tax and regulatory implications for investors when compared to ETFs, which are funds.

“Markets and investors around the world were engulfed in the chaos following what many saw as the unexpected result of the UK’s 23 June vote. Volatility was up significantly during the month. The S&P 500 index was up just 0.3 per cent. Emerging markets were up 3.94 per cent while developed markets ex-US declined 2.87 per cent. There is still uncertainty in the markets due to questions on when and how Brexit changes will be implemented and the many changes happening in UK political parties," said Deborah Fuhr, managing partner at ETFGI.

In Asia ex-Japan equities, ETFs and ETPs gathered the largest net inflows with $1.13 billion. This was followed by fixed income ETFs and ETPs with $866 million, and commodity ETFs and ETPs with $19 million.

Year-to-date through end of June 2016, ETFs/ETPs listed in Asia-Pacific ex-Japan gathered a record level of net inflows, at $11.06 billion.