ETF industry in for a big overhaul with rapid consolidation and change

Professional Adviser
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barclays global investment's closure of their sector funds and the takeover of merrills' etfs leaves market experts surprised

The exchange-traded fund (ETF) industry in Europe has been going through a period of rapid consolidation and change. Despite a strong growth curve so far and with the example of the hugely successful US model to follow, 2003 saw the closure of Barclays Global Investors' (BGI) range of sector funds but also saw the company take over the management of two STOXX-linked ETFs from Merrills and launch into the Italian market. Barclays' decision to close the sector funds is surprising, not only because of the broad success of the iShare range but also because the impetus for the launches came s...

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