The best year for U.S. initial public offerings (IPOs) since the1999 technology boom is driving record money into anexchange-traded fund (ETF) that invests in newly listed companiesfrom Twitter Inc. to General Motors Co.

The First Trust U.S. IPO Index Fund attracted $165 million inthe last three months of 2013, the most for a quarter since itstarted in 2006, according to data compiled by Bloomberg. Thatbrought the total annual inflows to a record $280 million. TheBloomberg IPO Index climbed 64 percent last year, the biggest jumpin 14 years, pushed by gains in Twitter and Hilton WorldwideHoldings Inc. Facebook Inc., which began trading in 2012 and hasthe biggest weighting in the IPO fund, doubled.

Appetite for equities drove U.S. companies to sell $56 billionin new shares last year, the most since 2007, data compiled byBloomberg show. Investors poured the most money in almost a decadeinto equity funds, as Standard & Poor's 500 companies addedmore than $3.7 trillion in market value. Demand for IPOs willremain strong amid a recovering global economy, said Romain Boscherat Amundi Asset Management.