MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, January 19, 2012 ETFs are on Fetting's Plate for 2012 Legg Mason [profile] CEO Mark Fetting counts ETFs and overseas expansion as among the high priority items on his to-do list for 2012. Fetting told Reuters that he is "testing the waters" in the ETF market. In November, the firm filed papers with the SEC to roll out the Legg Mason Western Asset Ultra-Short Duration ETF. That product will go head-to-head with Pimco's $1.79 billion Enhanced Short Maturity Strategy ETF. And earlier this month, Legg Mason's fixed income subsidiary, Western Asset Management, landed a sub-advisory mandate for WisdomTree fixed income ETFs. Though Legg Mason intends to have a bigger presence in the ETF space, Fetting aired his concerns about the ETF business model, namely its lower fees and lower profit margins. "So the question of where the value for the shareholder is for us has to be asked alongside meeting emerging demand," he told the wire service. Besides ETFs, expansion in Asia and Europe is also a priority for Fetting. He told Reuters that he is aiming to up the percentage of assets with overseas clients to 50 percent from the current 35 percent. Printed from: MFWire.com/story.asp?s=38879 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |