Asset managers are tripping over themselves to get into the U.S. exchange-traded funds and products space, according to a report released Thursday by ETFGI, a London-based research and consultancy firm.
A record 19 new providers had entered the sector this year through the end of September.
This compares with the full-year record of 15 new entrants set in 2009 and repeated in 2014, ETFGI said.
The 19 new providers have collectively launched 37 products, accounting for $1.1 billion in assets.
Twenty-one of these new launches follow smart beta strategies, and seven follow an active strategy.
ETFGI said the record number of new providers in the U.S. industry demonstrated a trend it had been watching: “that most asset managers feel they need to have a presence in the ETF industry.”
Another entrant is O’Shares Investments, co-founded by Kevin O’Leary, who appeared on the ABC reality television show “Shark Tank,” and Connor O’Brien; together they also co-founded O’Leary Funds, a Montreal-based investment fund manager.