Aberdeen Avoids ETF Market as Fund Managers Pile in: Chartby and
Aberdeen Asset Management Plc is steering clear of the $3 trillion exchange-traded fund industry, saying it’s too hard to make money.
That puts the firm at odds with other money managers after a record 980 new ETF funds were brought to the market last year. “If some of the big banks can’t make money out of ETFs, we are of the view that we cannot either,” Chief Executive Officer Martin Gilbert said in an interview on Bloomberg Television on Tuesday. “We are not looking at ETFs.”