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Thursday, October 01, 2009

Distributors Don't See ETFs as a Threat to Mutual Funds

Reported by Armie Margaret Lee

Some mutual fund firms may feel threatened by the growing popularity of ETFs, but in the eyes of distributors, ETFs do not pose a threat to mutual funds.

"We don't really see ETFs as a threat to mutual funds," said Mitchell Bell of Pershing at a panel at the MFWire Influencers' Summit: Redefining Distribution at the Four Seasons Hotel in Boston on Thursday. "It will take a long time for them to catch up to mutual funds."

"I say ETFs are helping the fund industry. Advisors selling stock in a sector are now selling ETFs in that sector. The ETF is more of a share class." Bell said.
"From our perspective, asset mangers should not worry too much," added Mark Schlafly of FSC.  

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