ETF Giants Turn From U.S. Fee Wars to Europe's Cash Trove
- The lure: the prospect of higher fees, surge in ETF issuance
- The big hurdle: mastering a market that isn’t one market
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Hammered by fee wars at home, fund managers including BlackRock Inc., Invesco Ltd. and Eaton Vance Corp. are bringing the battleground to Europe.
The firms are seeking to gain in a region that’s flush with $2.5 trillion in pension savings and poised for a surge in exchange-traded fund issuance. Managers on the continent are also struggling to adapt to revised MiFID regulations and dealing with the uncertainty of the U.K.’s exit from the European Union.