Index funds emerged from the world of mutual funds in the early 1970s, and two decades later they helped create the first exchange-traded funds. Now, in the latest asset management evolution, some mutual funds are converting into ETFs in what could be the start of a trend across Wall Street. In the process, money managers embracing the new wrapper are set to accelerate the shift of assets into the already rapidly growing ETF industry.
History Made as First Mutual Fund Converts Into an ETF wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.
History made as first mutual fund formally converts into an ETF bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
An Industry First: Two Mutual Funds Will Become ETFs This March March 3, 2021
An industry first is looming. Mutual fund issuer Guinness Atkinson is slated to convert two of its mutual funds to exchange traded funds on March 26.
The Guinness Atkinson Dividend Builder Fund (GAINX) and Guinness Atkinson Asia Pacific Dividend Builder Fund (GAADX) mutual funds will become ETFs on March 26.
“The shares of the two mutual funds are slated to become shares of the SmartETFs Dividend Builder (DIVS) and SmartETFs Asia Pacific Dividend Builder (ADIV), respectively,” according to a statement issued by the company.
In 2021, Dimensional Fund Advisors also plans to convert six tax-managed mutual funds with $20 billion in assets under management into ETFs. Meanwhile, the Nottingham Company has received board approval to transform its $99 million Adaptive Growth Opportunities Fund into an ETF too.
Guinness Atkinson to complete industry s first mutual fund to ETF conversion financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.