BlackRock, Inc. (NYSE:BLK) caused quite a stir in the ETF world at the end of June after iShares chief Mark Wiedman questioned the very nature of ETFs in an open letter to ETF investors. According to the Insight column on Euromoney.com, the firm has come out to clarify those comments.
ETFs are a tricky business. The instruments are new and their effects are not fully understood. Comments fawning over the impressive liquidity of the products, and using that characteristic to argue that ETFs do not follow an underlying index, but the underlying index follows them, are too drastic for the market...
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