Issuance of new exchange-traded funds (ETFs) in the U.S. marketplace is on track to hit a record high in 2023, as asset managers rush to launch actively...
- Issuance of new exchange-traded funds in the U.S. marketplace is on track to hit a record high in 2023, as asset managers rush to launch actively managed funds in response to rising interest rates and market volatility.
The U.S. Federal Reserve had raised interest rates to multi-year peaks before pausing last month, with geopolitical shocks and fears about rates remaining higher for longer roiling markets. Bryan Armour, ETF analyst at Morningstar, said that much of the impetus is coming from asset management companies that have begun to develop ETFs tied to strategies that have underpinned successful mutual funds.
So far this year, assets in defined-outcome ETFs have climbed still further by $2.64 billion, with 48 new launches. Of particular interest to investors are actively managed portfolios of bonds, like those introduced by Capital Group in late September.
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