iShares: Greenwich Associates ETF Studie

Die Studie beschäftigt sich mit der Entwicklung von ETF-Produkten, zeigt Strategien für die Auswahl von Indexfonds auf und beleuchtet die Vorteile von Renten-ETFs.

This report marks the fifth installment of Greenwich Associates annual Institutional ETF Study. Over that period, institutional views of ETFs have changed dramatically. When we first conducted this research, ETFs were perceived as mainly a retail product. Only a relative handful of institutions used ETFs, and when they did, it was most often for specific portfolio functions such as transitioning from one asset manager to another or making tactical adjustments to their portfolios. With each passing year of the study, the share of U.S. institutions using ETFs has increased—as has the number of investor applications.

The 2014 research results suggest that as a result of this steady progress, ETFs have evolved into a standard instrument in the toolboxes of institutional investors. One of the most important findings in this year’s research is that a growing number of institutions are using ETFs as a means of achieving core portfolio exposures. In fact, this strategic application is now the number one use of ETFs among institutional investors. The fact that institutions are now using these vehicles to obtain critical investment exposures is just one sign of the building momentum of ETFs. The research results also show that both the overall use of ETFs and institutional allocations to ETFs continued to rise last year and are expected to climb over the next 12 months. One driver of that growth has been the adoption of ETFs by institutions in new asset classes—especially fixed income. New regulations following the financial crisis have resulted in reduced dealer inventories of fixed securities and lower levels of liquidity in the secondary market. These changes could provide opportunities for ETFs to grow among institutional investors in the coming months.

Greenwich Associates expects both usage rates and allocations to broaden as institutions embrace ETFs for an expanding number of applications and asset classes, and as ETF providers continue to innovate in ways that make their product offerings more flexible and appealing to institutional investors.

Die vollständige Studie im pdf-Dokument

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