AMWatch

Vanguard and State Street are resisting the hot new ETF craze

One of Wall Street’s hottest innovations is being hailed as the potential key to luring trillions of actively managed dollars to the booming market for exchange-traded funds. Yet two of the industry’s biggest players want no part of it for now.

Photo: Spar Nord/PR

Vanguard Group and State Street Corp. say they’re in wait-and-see mode as active, non-transparent funds take their crucial first steps in the USD 4.3 trn U.S. arena for ETFs.

These products come with many of the benefits of traditional ETFs but drastically reduced disclosure requirements. That makes so-called ANTs a likely conduit to bring stock-picking strategies to the exchange-traded universe.

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