Exchanging places?
Assets under management in European-domiciled mutual funds have plunged more than EUR60 billion this year, while exchange-traded funds have seen healthy capital inflows of over EUR20 billion. With the pattern repeated in the US as traditional asset managers choose ETFs over mutual funds, Emma Dunkley asks whether these reversals in fortune are connected
Pimco, the US-based global investment management firm, made a filing on September 3 to the US Securities and Exchange Commission (SEC) for an active bond exchange-traded fund (ETF). Pimco's shift into ETF territory marks a departure from its typical fund offering and has contributed to the recent watershed of US fund managers taking up the ETF baton. "Pimco's move is a very serious development, and will lead the way for other mutual fund managers to enter the ETF space," says Isabelle Bourcier
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