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Nigel Brashaw, Partner, Global ETF Leader, PwC U.S., Tel: +1 617 530 4487, E: nigel.brashaw@us.pwc.com, Andy O’Callaghan, Partner, ETF Leader EMEA, PwC Ireland, Tel: +353 1 792 6247, E: andy.ocallaghan@ie.pwc.com, Marie Coady, Tax Partner, ETF Product Structuring Specialist, PwC Ireland, Tel: +353 1 792 6810, Email: marie.coady@ie.pwc.com, Bill Donahue, Managing Director, ETF Practice Leader, PwC U.S., Tel: +1 617 530 7037, Email: bill.j.donahue@us.pwc.com, Maria Tsui, Partner, Asia ETF Leader, PwC Hong Kong, Tel: +852 2289 1205, Email: maria.tsui@hk.pwc.com, Barry Benjamin, Partner, U.S. & Global Asset Management Leader, PwC U.S., Tel: +1 410 659 3400, Email: barry.p.benjamin@us.pwc.com, Gary Meltzer, Partner, Global Asset Management Advisory, Leader, PwC U.S., Tel: +1 646 471 8763, Email: gary.c.meltzer@us.pwc.com, Justin Ong, Partner, Singapore and Asia Pacific Asset, Management Industry Leader, PwC Singapore, Tel:+65 6236 3708, Email:justin.ong@sg.pwc.com, John Parkhouse, Partner, EMEA Asset Management Leader, PwC Luxembourg, Tel: +352 49 48 48 2133, Email: john.m.parkhouse@lu.pwc.com, Will Taggart, Partner, U.S. & Global Asset Management, Tax Leader, PwC U.S., Tel: +1 646 471 2780, Email: william.taggart@us.pwc.com, Sally Cosgrove, Audit Partner & ETF Product Structuring, Specialist, PwC UK, Tel: +44 20 7804 0669, Email: sally.cosgrove@uk.pwc.com, Peter Finnerty, Partner, Traditional Funds Assurance Leader, PwC U.S., Tel: +617 530 4566, Email: peter.finnerty@us.pwc.com, Hazel Hallam, Tax Director & UK ETF Leader, PwC UK, Tel: +44 20 7804 7919, Email: hazell.hallam@uk.pwc.com, Robert Mellor, Partner, Global AM 2020 Lead, PwC UK, Tel:+44 20 7804 1385, Email: robert.mellor@uk.pwc.com, John Siciliano, Managing Director, Global Strategy Lead, Asset Management Advisory, PwC U.S., Tel: +1 646 471 5170, Email: john.c.siciliano@us.pwc.com
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The ETF (Exchange Traded Fund) market is growing at a rapid pace. ETFs are
no longer considered a niche product and a growing number of organisations
are likely to enter this market in the future. To help asset managers prepare to
compete in this fast changing environment, we have considered the ongoing
evolution, barriers to growth and the opportunities that lie ahead, and how
they can plan for 2020.
Since their introduction only two decades ago, Exchange
Traded Funds (ETFs) have been undeniably successful.
Growing far beyond their initial function of tracking large
liquid indices in developed markets, ETFs now hold over $2.6
trillion of assets globally.1 ETFs are listed on an ever growing
number of exchanges and are being used by investors in a
growing number of markets. New investor segments continue
to integrate ETFs into their portfolios and fund sponsors
continue to introduce new products.
The proliferation of ETFs was identified in our AM 2020 publication as one of
the six game changers in the asset management (AM) industry. ETFs are no
longer a niche product, and their impact will continue to be felt much more
widely than imagined. As such, all financial services firms should consider
developing an ETF strategy. This may be an obvious choice for firms planning
to manage, service, or distribute ETFs, but it is also important for firms that
will be competing in an environment that is increasingly shaped by ETFs.
In 2013, PwC explored the rise of ETFs in depth in ‘The next generation
of ETFs’. Based on the history of ETFs and a close examination of recent
developments, this paper identified key trends, highlighted potential
obstacles to growth and articulated how industry players might formulate
coherent strategies to deal with ETFs.
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Nigel Brashaw, Partner, Global ETF Leader, PwC U.S., Tel: +1 617 530 4487, E: nigel.brashaw@us.pwc.com, Andy O’Callaghan, Partner, ETF Leader EMEA, PwC Ireland, Tel: +353 1 792 6247, E: andy.ocallaghan@ie.pwc.com, Marie Coady, Tax Partner, ETF Product Structuring Specialist, PwC Ireland, Tel: +353 1 792 6810, Email: marie.coady@ie.pwc.com, Bill Donahue, Managing Director, ETF Practice Leader, PwC U.S., Tel: +1 617 530 7037, Email: bill.j.donahue@us.pwc.com, Maria Tsui, Partner, Asia ETF Leader, PwC Hong Kong, Tel: +852 2289 1205, Email: maria.tsui@hk.pwc.com, Barry Benjamin, Partner, U.S. & Global Asset Management Leader, PwC U.S., Tel: +1 410 659 3400, Email: barry.p.benjamin@us.pwc.com, Gary Meltzer, Partner, Global Asset Management Advisory, Leader, PwC U.S., Tel: +1 646 471 8763, Email: gary.c.meltzer@us.pwc.com, Justin Ong, Partner, Singapore and Asia Pacific Asset, Management Industry Leader, PwC Singapore, Tel:+65 6236 3708, Email:justin.ong@sg.pwc.com, John Parkhouse, Partner, EMEA Asset Management Leader, PwC Luxembourg, Tel: +352 49 48 48 2133, Email: john.m.parkhouse@lu.pwc.com, Will Taggart, Partner, U.S. & Global Asset Management, Tax Leader, PwC U.S., Tel: +1 646 471 2780, Email: william.taggart@us.pwc.com, Sally Cosgrove, Audit Partner & ETF Product Structuring, Specialist, PwC UK, Tel: +44 20 7804 0669, Email: sally.cosgrove@uk.pwc.com, Peter Finnerty, Partner, Traditional Funds Assurance Leader, PwC U.S., Tel: +617 530 4566, Email: peter.finnerty@us.pwc.com, Hazel Hallam, Tax Director & UK ETF Leader, PwC UK, Tel: +44 20 7804 7919, Email: hazell.hallam@uk.pwc.com, Robert Mellor, Partner, Global AM 2020 Lead, PwC UK, Tel:+44 20 7804 1385, Email: robert.mellor@uk.pwc.com, John Siciliano, Managing Director, Global Strategy Lead, Asset Management Advisory, PwC U.S., Tel: +1 646 471 5170, Email: john.c.siciliano@us.pwc.com
The ETF (Exchange Traded Fund) market is growing at a rapid pace. ETFs are
no longer considered a niche product and a growing number of organisations
are likely to enter this market in the future. To help asset managers prepare to
compete in this fast changing environment, we have considered the ongoing
evolution, barriers to growth and the opportunities that lie ahead, and how
they can plan for 2020.
The ETF (Exchange Traded Fund) market is growing at a rapid pace. ETFs are
no longer considered a niche product and a growing number of organisations
are likely to enter this market in the future. To help asset managers prepare to
compete in this fast changing environment
we have considered the ongoing
evolution
barriers to growth and the opportunities that lie ahead
and how
they can plan for 2020.
Since their introduction only two decades ago
Exchange
Traded Funds (ETFs) have been undeniably successful.
Growing far beyond their initial function of tracking large
liquid indices in developed markets
ETFs now hold over $2.6
trillion of assets globally.1 ETFs are listed on an ever growing
number of exchanges and are being used by investors in a
growing number of markets. New investor segments continue
to integrate ETFs into their portfolios and fund sponsors
continue to introduce new products.
The proliferation of ETFs was identified in our AM 2020 publication as one of
the six game changers in the asset management (AM) industry. ETFs are no
longer a niche product
and their impact will continue to be felt much more
widely than imagined. As such
all financial services firms should consider
developing an ETF strategy. This may be an obvious choice for firms planning
to manage
service
or distribute ETFs
but it is also important for firms that
will be competing in an environment that is increasingly shaped by ETFs.
In 2013
PwC explored the rise of ETFs in depth in ‘The next generation
of ETFs’. Based on the history of ETFs and a close examination of recent
developments
this paper identified key trends
highlighted potential
obstacles to growth and articulated how industry players might formulate
coherent strategies to deal with ETFs.
ETF
ETF 2020 - Preparing for a new horizon
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