Independent broker dealers (IBDs) and wirehouse firms experienced net asset outflows of two percent for actively managed mutual funds in the first half of 2016, according to data released today by Broadridge Financial Solutions via its Fund Distribution Intelligence.
We expect the growing use of passively managed funds by advisors and the increasing popularity of ETFs to continue to accelerate.
Summary of Main Findings
Most of the outflows of actively managed funds from broker dealers appeared to move to passively managed mutual funds and ETFs. During the first half of 2016, net new assets for passively managed funds and ETFs increased by nine ... (read more)