The upstart exchange traded fund industry has been slowly chiseling away at mutual funds’ market share. However, traditional fund providers are taking action, creating ETF teams of their own as a precursor for potential future launches.
J.P. Morgan Asset Management, Principal Funds, Legg Mason and Goldman Sachs Asset Management have hired leaders and experts in the field to focus on ETF strategy and managing necessary relationships with traders, exchanges and other participants, reports Jackie Noblett for Ignites.
J.P. Morgan Asset Management has already launched three international ETF investments, including the JPMorgan Diversified Return Emerging Markets Equity ETF (NYSEArca: JPEM), JPMorgan Diversified Return Global Equity ETF (NYSEArca: JPGE) and JPMorgan Diversified Return International Equity ETF (NYSEArca: JPIN). [J.P. Morgan’s New EM ETF Challenges Conventional Rivals]
Principal Funds launched its first ETF, the Principal EDGE Active Income ETF (NYSEArca: YLD), earlier in July. [Principal Financial Enters ETF Fray With Multi-Asset Fund]
Legg Mason has filed with the Securities and Exchange Commission to launch alternative, smart-beta index exchange traded funds. [Legg Mason Is Considering Smart-Beta ETF Strategies]
Goldman Sachs has been given SEC approval to launch active and passive ETFs. The firm has filed for five passively hedge fund-type ETFs and six actively managed ETFs under the “ActiveBeta” brand. [Goldman Sachs Wins SEC Approval for ETFs]