Index funds became popular over the last four decades because they’re simple, conservative and low cost. A different kind of exchange-traded fund is drawing record cash by promoting better returns with the same stocks.
Sugar shipments from India, the world’s second-largest producer, are poised to climb as the biggest monthly gain in prices since 2011 and a state subsidy help mills compete with supplies from Brazil and Thailand.
The value of assets held by energy investors at year-end topped precious metals for the first time since 2009 as gold’s worst performance in three decades spurred a flight from exchange-traded products backed by bullion.
It’s 20 minutes before 4 p.m. in London and currency traders’ screens are blinking red and green. Some dealers have as many as 50 chat rooms crowded onto four monitors arrayed in front of them like shields. Messages from salespeople and clients appear, get pushed up by new ones and vanish from view. Orders are barked through squawk boxes.
It took Abigail Johnson 25 years to take charge at Fidelity Investments, the money manager controlled by her father. As she picks a new head for the firm’s asset-management unit, her choice is likely to be a company veteran who rose through the ranks like she did.