Financial regulators across the world are increasingly focused on potential dangers of exchange traded funds, which now account for $5.2tn of assets globally.
The growth in ETFs has been encouraged by disenchantment at the high fees and poor performance of many traditional active managers that pick stocks and bonds with the aim of beating the market.
However, the scale of money now committed to these passive products has fuelled concerns that they may be storing up threats to consumers’ interests and market stability in periods of high volatility or stress.
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