Institutional investors pour into ETFs

Of the 2,926 investors that reported using ETFs last year, the study found only 48 were pension funds. BGI global head of ETF research and implementation strategy Deborah Fuhr says the low penetration among pension funds partly reflects their use of external managers. She says: "Only the top few are able to buy and sell securities. The rest use external managers." External managers fall under the investment advisers category which accounted for 2,152 users, the largest category, while hedge funds users totalled 438. The third largest users were banks and trusts with 193 investors. ...