| Cheap, flexible and tax-efficient. The three big advantages of passively managed exchange-traded funds continue to drive the migration of investment assets from actively managed mutual funds to ETFs.
Many industry observers expected that increased market volatility would push investors back to active managers, but the latest asset-flow stats from research firm Morningstar suggest not. In May, $18.7 billion flowed out of actively managed U.S. equity funds and $8.1 billion flowed into passively managed ones that track an index — largely ETFs...............................................Full Article: Source
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