Third Quarter Hiccup
Assets in ETF managed portfolios plummeted 6% this quarter. At the end of the third quarter, strategies in Morningstar’s database had collective assets under management (AUM) or assets under advisement (AUA) of $96 billion--on par with their end of 2013 level.
The third quarter was a rough one for global equity markets. Given that U.S. Equity strategies continue to hold the lion’s share of assets, the landscape took quite a hit this quarter as six out of the nine Morningstar Style Box categories posted negative returns--with the exception of large caps. Additionally, Good Harbor’s U.S. Tactical Core, once the largest strategy in this universe, saw its assets decline 36.7% due to a combination of poor returns and outflows.
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