07.17.24
Fund Managers Forgo Billions in Fees in Race to the Bottom
by: Emma Boyde
Asset managers missed out on billions of dollars in fees from U.S. fund investors last year as exchange-traded funds (ETFs) ate into revenues from mutual funds, Morningstar’s annual U.S. fund fee study shows. The study indicates US investors saved nearly $3.4 billion in fund expenses last year compared to the previous year as the average asset-weighted expense ratio edged down from 0.37% to 0.36%, continuing a multi-decade downward trend. While passive products have drawn money from active funds, active ETFs were the story of the year.
Read the full article on Financial Times