A $1 Trillion Mutual Fund-to-ETF Bonanza May Be Getting Started
- Citi says clients are asking about conversions after DFA move
- Quant giant switched almost $29 billion into ETF wrapper
A pedestrian wearing a protective mask walks past a Citibank bank branch in San Francisco, California, U.S.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Monday’s historic conversion of almost $29 billion of mutual funds from Dimensional Fund Advisors into ETFs could signal boom times for the likes of Citigroup Inc.
As transfer agent, the Wall Street bank made sure investors holding the four mutual funds from the quant giant on Friday were able to see and trade their shares in the exchange-traded funds this week.