BlackRock is on the verge of being dethroned as the manager of the world’s largest bond exchange traded fund.
The shake-up comes during a tumultuous year for fixed-income funds, with the Bloomberg US Aggregate Bond Index, followed by several large funds, tumbling 10.5 per cent since December amid surging inflation.
On top of these losses, iShares’ Core US Aggregate Bond ETF (AGG), the dominant force in the sector since at least the mid-2010s, has suffered net outflows of $815mn this year, according to FactSet data.
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