It may have been a long time coming, but active management has finally arrived in exchange traded funds, as Invesco PowerShares on Monday launched four new active ETFs on the New York Stock Exchange.
ETFs, baskets of securities that are designed to track indices and trade like stocks, have been the hottest investment vehicles of recent years and are especially popular among affluent investors. Assets held within ETFs have increased 30 per cent to $559bn in the past year, according to the Investment Company Institute, the industry body.
