“Pooneh Baghai, co-leader of McKinsey’s Americas Wealth Management, Asset Management and Retirement Practice, predicts that assets in actively managed exchange-traded funds will explode to $500 billion by 2020, up from $15.2 billion today,” reports ValueWalk, citing SEI.
Wells Fargo is not the first major U.S. bank to enter the ETF business. Just last week, J.P. Morgan Chase (NYSE: JPM) made its long-awaited ETF debut with the launch of the JPMorgan Diversified Return Global Equity ETF (NYSEArca: JPGE).
Designed to be a global core equity allocation tool for investors, the JPMorgan Diversified Return Global Equity ETF is comparable to several other new ETFs that have recently debuted in that it uses a factor-driven approach. [J.P. Morgan’s New ETF Debuts]
ETF Trends editorial team contributed to this post.