Exchange-traded funds are slowly starting to attract fund administrators, Financial News reports. The market has grown 10-fold over a decade to $1 trillion.
For fund administrators, additional demands for transparency owing to trading in the primary and secondary markets and other added complications from exchange trading all led against involvement. However, its “meteoric” growth, scale and increasing interest shown by hedge managers has made administrators think again. Some, such as Citigroup, are investing more automation and reconciliation controls.
Click here for the story from Financial News.