Neil Sipes
@neil_sipes4
@Bloomberg Intelligence Research | Equity Analyst: Wealth + Asset Managers / Investment Banks. Also golf, NHL, EPL. Views mine.
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Active ETFs are moving from small AUM franchises to meaningful flow drivers for traditional asset managers, with plenty of runway.
BlackRock, T. Rowe, Franklin, AB and Invesco generated 10-15% of firmwide 1H net flows from just 1-2% of AUM.
Wealth and model adoption are leading growth, while mutual fund migration expands the opportunity, creating a pocket of organic active growth with fee-rates running around 70-80% of active mutual funds.
$BLK $TROW $BEN $AB $IVZ
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