Europe's mutual funds looking to launch ETFs: Blackwater
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EUROPE'S MUTUAL FUNDS LOOKING TO LAUNCH ETFS: BLACKWATER
The impressive growth of exchange-traded funds (ETFs) has mutual fund managers in Europe increasingly eager to adopt the rival product, a survey by ETF specialist Blackwater shows.
Nine out of every 10 European mutual fund managers plan on launching ETFs or undertaking more due diligence of the space within the next two years, up from 9% in 2021, according to the survey of 127 small and large managers.
This follows a similar trend in the United States where large, established asset managers are now trying to grab a slice of the budding market with a flurry of new ETFs and also by converting existing mutual funds.
The survey showed that about 62% of European mutual funds are concerned by the growth of ETFs, compared to 18% in 2021.
Lower fees, strong liquidity and transparency have steadily lured investors away from traditional mutual funds and into ETFs.
However, more than half of the fund managers in the survey are concerned about the cost of building an ETF business.
(Bansari Mayur Kamdar)
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