ETFs have steadily chipped away at market share of the almighty mutual fund, but the wrapper still has room to grow.
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The bank’s asset management arm has made two ETFs available on the Toronto Stock Exchange, and plans to grow staff in Canada.
Roughly 30% of portfolios had exposure to active ETFs in the second quarter, up from just 13% in 2022, Fidelity reported.
Roughly $180 billion in assets flowed out of more expensive equity funds in the first half of the year.
It’s the latest in several moves — announced in swift succession — that suggest a radical overhaul in Zuckerberg’s thinking about Meta.
Executives at top financial services firms expect to cut as many 200,000 jobs in the next five years and significantly increase revenues.
The investment company says advisors and investors should break from the traditional strategy and take on more defensive positions this year.