More than a quarter of exchange traded funds and notes listed in the US have failed to attract enough assets to be economically viable, according to data compiled for the Financial Times.
Cut-throat competition in the fast-growing market for tradable index-tracking funds is making it harder for sponsors to cover costs and forcing some to close funds.
As the number of funds increases, assets have been spread more thinly across products, forcing sponsors to lower fees further in order to compete.
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