Last month, the Securities and Exchange Commission could approved an application by American Funds, one of the largest issuers of mutual funds, to enter the ETF business.
California-based American Funds has $1.2 trillion in assets under management, or more than half the current AUM tally for the U.S. ETF industry. However, ETFs are the fastest-growing corner of the asset management industry, underscoring the desire of mutual fund companies to become involved with products that institutional investors and advisors are increasingly adopting. [Institutions Boost ETF Usage]
While it took nearly two decades for the ETF industry to reach $2 trillion in assets, it will not need nearly as long to get to $5 trillion, according to a new report by PwC. The PwC repots says the global ETF industry will reach $5 trillion in combined AUM by 2020. [ETFs not Stopping at $2 Trillion]
Last week, it was reported that SEC filings detail a possible return to the ETF industry by Nuveen Investments. Last week’s SEC filing isn’t the first sign Nuveen has been considering returning to ETFs. In December, the company said its Nuveen Commodities Asset Management unit plans to convert two of its commodities mutual funds into ETFs. [Nuveen Eyes ETF Return]
ETF Trends editorial team contributed to this post.