Barclay's Global Investors (BGI) is launching nine new exchange-traded funds based on the Morningstar style box methodology, a move that will bolster its already dominant position in the ETF space. Barclay's owns more than 65% of the market share in the ETF business.
The new Morningstar iShares cover each of Morningstar's nine style categories, including large value, medium blend and small growth.
"Many advisors follow Morningstar's research and determine a target asset allocation for their clients based on [it]," said Lee Kranefuss, CEO of BGI's intermediary business.
The timing of the launch hinges on how long it takes the firm to receive approval from the SEC. It has yet to be determined where the funds will trade.
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