Mutual fund executives dismiss ETFs as a threat
They expect banks to continue to dominate the distribution of traditional mutual funds and not ETFs, but admit to concerns over future industry growth.
Senior Asian asset managers locked horns at a conference yesterday on the question of whether exchange-traded funds (ETFs) will eventually supersede mutual funds in investors’ portfolio allocation.
David Jiang, executive vice-president for BNY Mellon’s passive ETF, beta and transition management businesses globally, raised the issue, suggesting that Asia’s mutual funds industry in particular ought to view the rapid growth of ETFs as a serious challenge.
ETFs offer a number of th…
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