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Beyond indexes

Exchange-traded funds (ETFs) continue to innovate at breakneck pace, with the latest addition being actively managed funds. Dealers say the move could deliver a blow to mutual funds' competitive position in the asset management world. By Wietske Blees

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Exchange-traded funds (ETFs) have been taking the investment market by storm. Since their launch in the early 1990s, growing numbers of investors have flocked into the sector, attracted by the low costs, tax advantages and transparency of the product. This year, their popularity could receive a further boost, as ETF providers - traditionally confined to tracking indexes - have received the green

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