ETFs and other passive instruments have attracted record amounts of investor cash this year.
In November, investors plowed $112 billion into long-term mutual funds and exchange-traded funds, a record not seen since January 2013 when $117 billion of investors' cash found its way into funds. ETFs were the most popular choice by far. ETFs attracted a record $97 billion in November.
Q3 2020 hedge fund letters, conferences and more
Over the year to the end of November, domestic-equity ETFs attracted $118 billion. In contrast, open-end funds suffered a whopping $345 billion of outflows.
That puts open-end U.S. equity funds on track for their worst outflows in a calendar year. The previous record...
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