Mutual funds

The correlation between fees and performance is not “apples-to-apples when taking the funds’ underlying exposures into account,” an expert says.

Expense ratios associated with the new products range from 0.05% to 0.07%.

The transition is expected to take place within the next 12 to 18 months, however the firm says it will still manage the products’ underlying investments.

The average expense ratio among the leading 20 is nearly 40 basis points cheaper than what investors paid on average last year.

Clients won't be taxed as the result of a deal if they hold the shares in ETFs or index mutual funds.

The custodial bank says it has reimbursed the affected clients with interest.

Though the fees are controversial, there may not be an easy way for the industry to abandon them.

Opening the door to retail money comes with risks, including the danger of exposing financial neophytes with relatively limited savings to complex investments.

The firm says it will focus the new funds on tech, demographics, urbanization, climate change and emerging global wealth.

Revisiting his predictions from 2017, he doubles down on the importance of firms adapting to embrace industry trends — and offers some new forecasts.