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New business drops but world’s second-largest asset manager weathers market storm
Last year’s net ETF flows at $221bn were lower than in 2021, but Vanguard’s $214bn marked a far steeper decline
Rival iShares, however, was bestselling manager in November
Second-largest asset manager dropped from state hearing a week after it quit financial alliance on climate change
Asset manager owned up to breach of Australian regulations days before pulling out of net zero alliance
Plus, the ascent of ETFs, investors flee crypto exchanges, and a century of Surrealism
World’s second-largest asset manager cites investor ‘confusion’ amid increase in criticism from Republicans
BlackRock and Vanguard want to give ordinary investors a say
Big falls in stocks and bonds have meant funds designed to be safer are underperforming racier options
The $44mn US Liquidity ETF has failed to build scale since its 2018 debut
Plus, unloved UK equities, a ‘lost decade’ for 60/40 portfolios, and the Braemar Literary Festival
Asset management giants vie for dominance in passive funds
The $24.2bn to Vanguard ETFs was nearly four times the iShares total
Gramercy and Vanguard think so
Investors pulled $54.3bn from the manager’s active mutual funds — more than from any other provider
BND fund has had net inflows of $6.9bn this year while iShares’ AGG has bled $815mn
Net inflows decline 30% in the first half of 2022 to $464bn
Asset managers charge more just as investors dash for safety
Criticism is just the latest in a series of misguided concerns over the industry
Financial regulators clamp down on companies misleading investors by overstating the greenness of their funds
The financial industry’s new emperors
World’s second-largest asset manager cites its duty to maximise returns for clients
Fund manager makes cost changes to more than $137bn in ETFs and mutual funds
Patent for unique tax-efficient fund structure expires in 2023, but rivals may not be able to follow suit
Rivals could copy their structure, but the question is whether any will bother
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