Wall Street Asset Managers Race for $3 Trillion Active-ETF Prize
- Active ETFs account for highest-ever share of inflows in 2023
- Just-arrived Morgan Stanley is ‘laser focused’ on active funds
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The world of exchange-traded funds — still synonymous with passive investing — is turning into a battleground for Wall Street’s biggest players as they compete for a slice of the active-management industry.
Active products have scooped up almost a third of the $49 billion flooding into ETFs this year, as stock pickers take on new luster in an era of Federal Reserve policy tightening and investors funneling cash ever more into tax-efficient vehicles. That’s a record share of flows, though it’s still just 6% of the $7 trillion market by assets.