Actively managed exchange traded funds are poised to hit $1tn in assets, cementing a dramatic transformation from a forgotten backwater to a key driver of global industry growth.
The vehicles, which offer a cheaper rival to mutual funds that try to outperform indices, reached $974bn in assets as of the end of July, data from consultancy ETFGI showed.
The gains mark a sharp increase in recent years for active ETFs, which have been around since at least 2006 but took until 2018 to reach $100bn in assets, according to ETFGI data.
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