Earnings, M&A, and What’s Next for Asset Managers

The video discusses the third quarter earnings with a focus on sector rotation from active to passive investments, the impact of new regulations, and technological advancements in ETFs. It highlights industry consolidation, mergers, and acquisitions, particularly the Janus and Henderson deal. The discussion extends to the challenges faced by small firms and foreign players in the US market. The video also explores the importance of scale and fee reduction in mergers, and the competitive landscape in the passive investment space, emphasizing BlackRock's strategy to lower fees and increase market share.

Discuss the implications of fee structures in the context of competition among ETF managers.

What challenges do U.S. retail channels face compared to institutional channels?