Markets
ETF Proliferation Reaches Its Editing Phase
Fund launches have been outpaced by closures for the first sustained stretch in the product's history. The survivors reveal what the proliferation was actually for.
Investing
Money
Alternative Assets Creep Into Retirement Menus
Private equity, private credit and real assets are arriving inside ordinary retirement plans, bringing diversification arguments and fee questions in equal measure.
Markets
Index Concentration Becomes a Risk Committee Problem
Broad market index funds have become substantially less diversified than the word index implies. Institutional allocators are reworking mandates written when the assumption held.
Markets
Investors Position for a Slower Path Down on Rates
Futures markets have spent the summer walking back easing expectations, and portfolio managers are adjusting duration, credit and cash accordingly.