The pace of mutual fund innovation seems to be slowing, by one key measure. Yet ETFs are a notable exception.
Morningstar's Russel Kinnel tells
| Russel Kinnel|
Director of Manager Research
his colleague, Christine Benz
, that net open end mutual fund creation (aside from ETFs) is disappearing.
"This year we're seeing essentially net creation is almost zero," Kinnel says. "It's almost entirely happening on the creation side. So, much fewer funds than usual have been created on the open-end side."
Kinnel doesn't share specific numbers, but he notes that, "if we included ETFs" in the net creation number, "it would probably be much more like a normal year, or maybe even more because yes, ETFs continued to be created a lot."
"There's been rampant creation in the ETF space," Benz agrees.
Neil Anderson, Managing Editor
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