The “star portfolio manager” syndrome is taking over ETFs

etfs

Very interesting to see Blackrock launch an Active Fixed Income ETF for star portfolio manager Rick Rieder.
This was no doubt a response to the run-away success that JP Morgan has had with the JPMorgan Equity Premium Income Active ETF (now at $25.9bn AUM) managed by one of their star portfolio managers, Hamilton Reiner. The active manager battle within ETF is now well and truly on.

JPMorgan to acquire Nutmeg

A large number of fund launches, followed by the official ETF conversion of four Dimensional equity mutual funds totalling $28.8 billion. The week closed with an equally significant and surprise announcement of JPMorgan’s acquisition of Nutmeg.