Exchange-traded funds are loved for their low fees and hands-off investing style. But the popularity of mutual funds persists – more than 60 per cent of Canadians buy them – and ETF heavyweight BlackRock Inc. wants a piece of the market.
BlackRock, the largest seller of these products in Canada, is well-known for its iShares ETFs. It has nearly $40-billion in assets under management and accounts for nearly 60 per cent of the market. The company’s new strategy revolves around using those iShares to create a suite of seven mutual funds to expand even further into the Canadian investment marketplace.