| Titre : |
To what extent does the emergence of ETFs have an impact on Open-End Mutual Funds : Substitutability and complementarity of both investment vehicles through a cross-analysis of evolutions and ownership |
| Type de document : |
Mémoire |
| Auteurs : |
Nicolas BOUTHORS, Auteur |
| Année de publication : |
2020 |
| Importance : |
67 p. |
| Note générale : |
Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de page. |
| Langues : |
Anglais (eng) |
| Mots-clés : |
Management
CRITERE D'INVESTISSEMENT ; FINANCE DE MARCHE ; INVESTISSEMENT ; FONDS COMMUN DE PLACEMENT
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| Résumé : |
In the USA, the emergence of ETFs over the past 20 years simultaneously occurs at the same time as Open-End Mutual Funds downturn. This report describes and analyses to what extent ETFs have influenced this recent Mutual Funds trend. A cross-analysis of their evolutions and ownership was performed and different conclusions have emerged. ETFs turn out to be a substitute of Mutual Funds for specific asset classes and for a particular investor profile and thus, to some extent, contributed to their decline. However, on a general basis, they are imperfect substitutes due to structural differences and inability to deal with the same issues. Thus, the emergence of ETFs simultaneously increased the market completeness by offering new products and services previously unavailable, as well as it created a competition that forced Mutual Funds to improve and to be more sophisticated in specific areas where they remain more efficient. Finally, this resulted in enhanced competitiveness for each investment vehicle that led to a more efficient market for the ultimate benefit of investors. |
| Programme : |
MSc Finance |
| Permalink : |
https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=532898 |
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To what extent does the emergence of ETFs have an impact on Open-End Mutual Funds / 2020 
