European ETF market crowded

Speaking at the Morningstar UK Investment Conference this morning, Burns compared the huge number of EuroStoxx 50 ETFs to a mere handful of ETFs listed in the US that track the S&P 500. Burns also hailed the growth of the ETP industry as a "global phenomenon", and said the benefits of the products would be more important as asset allocation becomes an increasingly significant component in portfolio managers' decision making. He added: "It is sometimes better to invest in the average. The most sophisticated investors are using ETFs and active managers." Burns said ETFs offered lower...