| The “relentless march” of more complex exchange-traded funds (ETFs) has curtailed a downward trend in fees and put pressure on income strategies’ dominance of the smart beta market. A global guide to the industry produced by data provider Morningstar has found the growth of the market in Europe is increasingly being driven by the rise of more complicated strategies.
Of the 58 new smart beta ETFs in the 12 months to the end of June 2016, more than half were linked to ‘multi-factor’ strategies that represent “a way for ETF providers to differentiate their product offerings and maintain profit margins”, according to the report..........................................Full Article: Source
|