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href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/68b8fcab-0ce2-44f6-a047-36058a08c08c" data-trackable="heading-link" class="js-teaser-heading-link">ETFs jump to two-thirds of all Taiwan fund assets</a></div><p class="o-teaser__standfirst"><a href="/content/68b8fcab-0ce2-44f6-a047-36058a08c08c" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Growth sparks regulatory concerns about growing imbalance between passive and active investing</a></p></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/68b8fcab-0ce2-44f6-a047-36058a08c08c" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" 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Europe</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/6c921515-b2f7-4457-87fa-f54d09e1cce1" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F66fbb5b5-139c-41f2-b952-0ec07ab51ee6.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="eb71f9da-c28e-4018-bb3c-3a914cf93c20"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/eb71f9da-c28e-4018-bb3c-3a914cf93c20" data-trackable="heading-link" class="js-teaser-heading-link">China explores relaxing rules to allow multi-asset ETFs</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/eb71f9da-c28e-4018-bb3c-3a914cf93c20" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0e8eb7f4-270e-41c1-923f-7752a6d92628.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="1942e614-79e4-4c12-be58-852415465c36"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/1942e614-79e4-4c12-be58-852415465c36" data-trackable="heading-link" class="js-teaser-heading-link">Trump effect tests resolve of traditional ETF investors</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/1942e614-79e4-4c12-be58-852415465c36" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F69db7df5-9bd6-45d2-837e-055b587275f9.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="598901d6-5da4-464f-af9c-9b9b9bbd1023"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/598901d6-5da4-464f-af9c-9b9b9bbd1023" data-trackable="heading-link" class="js-teaser-heading-link">Traditional index trackers shunned in January US ETF flows</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/598901d6-5da4-464f-af9c-9b9b9bbd1023" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F03541956-7c75-4edd-a358-933d369c5131.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div></div><div class="container container--w-div flow-row"><div class="container__item flow-ln-1 LX:flow-ln-2"><div class="graphic--flourish"><figure><a href="#visualisation/20837603" data-asset-type="flourish" data-flourish-id="visualisation/20837603"><div id="visualisation/20837603" class="graphic--flourish-disclaimer o-message o-message--alert o-message--neutral" data-o-message-close="false" data-o-component="o-message" style="background-color:#f2dfce"><div class="o-message__container"><div class="o-message__content"><p class="o-message__content-main">An interactive graphic failed to load. This is most likely due to being offline or JavaScript being disabled in your browser.</p></div></div></div></a></figure></div></div><div class="container__item flow-ln-1 align-self--center LX:flow-ln-2"><div class="content-link-centred"><div class="content-link-centred__heading js-teaser-headline" data-content-id="d997adb6-bda3-41a8-aae1-da8918f27755"><a data-trackable="heading-link" href="https://www.ft.com/content/d997adb6-bda3-41a8-aae1-da8918f27755">ETF flows obliterate previous full-year record to hit $1.5tn </a></div><p class="content-link-centred__standfirst"><a href="https://www.ft.com/content/d997adb6-bda3-41a8-aae1-da8918f27755" data-trackable="standfirst-link">Buying frenzy peaked at end of year spurred by Donald Trump’s presidential victory</a></p></div></div></div><h2 class="o-teaser-collection__heading heading-level--h2" id="--market-news--analysis">Market news & analysis</h2><div class="container container--w-div flow-row"><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image o-teaser--opinion js-teaser" data-id="0e632a7b-0962-42ea-803a-c4b59f44b4f9"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Markets Insight</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/18af95f7-b9ed-4506-83e1-094957738a26" aria-label="Category: Richard Clarida">Richard Clarida</a></div><div class="o-teaser__heading"><a href="/content/0e632a7b-0962-42ea-803a-c4b59f44b4f9" data-trackable="heading-link" class="js-teaser-heading-link">Markets may be underestimating how much inflation will fall this year</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/0e632a7b-0962-42ea-803a-c4b59f44b4f9" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fdd02cd48-1185-49ba-9207-1c73dd9489f9.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="3cc5ecae-0a51-422c-b617-17030b96e506"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/trump-tariffs" aria-label="Category: Trump tariffs">Trump tariffs</a></div><div class="o-teaser__heading"><a href="/content/3cc5ecae-0a51-422c-b617-17030b96e506" data-trackable="heading-link" class="js-teaser-heading-link">Trump unveils ‘reciprocal’ tariff plan to hit trade partners</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/3cc5ecae-0a51-422c-b617-17030b96e506" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F067c03d0-b6ef-4170-8685-bc0eacfeeb41.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="1a6105ae-e4e9-47c0-aa99-b2ba8ac7fd89"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/trump-tariffs" aria-label="Category: Trump tariffs">Trump tariffs</a></div><div class="o-teaser__heading"><a href="/content/1a6105ae-e4e9-47c0-aa99-b2ba8ac7fd89" data-trackable="heading-link" class="js-teaser-heading-link">‘Cost and chaos’: Trump’s metal tariffs sweep across corporate America</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/1a6105ae-e4e9-47c0-aa99-b2ba8ac7fd89" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4277ef96-f448-4ed5-83da-25202211eb87.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image o-teaser--opinion js-teaser" data-id="fd2ea95b-9533-4eaf-8a02-633aff5a30d8"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Unhedged</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/robert-armstrong" aria-label="Category: Robert Armstrong">Robert Armstrong</a></div><div class="o-teaser__heading"><a href="/content/fd2ea95b-9533-4eaf-8a02-633aff5a30d8" data-trackable="heading-link" class="js-teaser-heading-link">Trump trade goes down, gold goes up</a><span> <span class="o-labels o-labels--premium o-labels--content-premium">Premium</span><span class="o-normalise-visually-hidden"> content</span></span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/fd2ea95b-9533-4eaf-8a02-633aff5a30d8" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fa6bc2376-481b-41df-a4ab-2257b2f71836.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div></div><h2 class="o-teaser-collection__heading heading-level--h2" id="--understanding-etfs">Understanding ETFs</h2><div class="container container--w-div flow-row"><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser 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eating the bond market</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/b4a7f326-266a-450f-915a-6a3fa21e2702" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F600b6b51-afc3-423d-989f-356a89bbb047.png?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="a913d225-6b38-42c2-8ba6-8c621857987b"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Explainer</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-hub" aria-label="Category: ETF Hub">ETF Hub</a></div><div class="o-teaser__heading"><a href="/content/a913d225-6b38-42c2-8ba6-8c621857987b" data-trackable="heading-link" class="js-teaser-heading-link">What is securities lending, why do ETFs do it and is it risky?</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/a913d225-6b38-42c2-8ba6-8c621857987b" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fcb8e8d4d-42b7-431e-83e6-2426b2963cf6.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div></div></div></div> <script>console.log('Dotcom Pages loaded')</script> <div class="o-grid-container"> <div class="o-grid-row"> <div class="js-track-scroll-event" id="stream" data-o-grid-colspan="12 L8" data-has-stream-list-title > <div class="o-grid-row"> <div class="o-teaser-collection" data-o-grid-colspan="12" 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datetime="2025-02-17T05:00:23.485Z">Monday, 17 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="68b8fcab-0ce2-44f6-a047-36058a08c08c" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="68b8fcab-0ce2-44f6-a047-36058a08c08c"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/68b8fcab-0ce2-44f6-a047-36058a08c08c" data-trackable="heading-link" class="js-teaser-heading-link">ETFs jump to two-thirds of all Taiwan fund assets</a></div><p class="o-teaser__standfirst"><a href="/content/68b8fcab-0ce2-44f6-a047-36058a08c08c" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Growth sparks regulatory concerns about growing imbalance between passive and active investing</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="68b8fcab-0ce2-44f6-a047-36058a08c08c" data-myft-ui="saved" action="/myft/save/68b8fcab-0ce2-44f6-a047-36058a08c08c" data-js-action="/__myft/api/core/saved/content/68b8fcab-0ce2-44f6-a047-36058a08c08c?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save ETFs jump to two-thirds of all Taiwan fund assets to myFT for later" aria-label="Save ETFs jump to two-thirds of all Taiwan fund assets to myFT for later" data-alternate-label="ETFs jump to two-thirds of all Taiwan fund assets is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="68b8fcab-0ce2-44f6-a047-36058a08c08c" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/68b8fcab-0ce2-44f6-a047-36058a08c08c" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2254%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4ebb2f89-e9f5-4972-be5a-206211c2921e.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="People walk past a stock index display outside the Taiwan Stock Exchange office in Taipei"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-14T16:52:42.823Z">Friday, 14 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="6c921515-b2f7-4457-87fa-f54d09e1cce1" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="6c921515-b2f7-4457-87fa-f54d09e1cce1"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/investments" aria-label="Category: Investments">Investments</a></div><div class="o-teaser__heading"><a href="/content/6c921515-b2f7-4457-87fa-f54d09e1cce1" data-trackable="heading-link" class="js-teaser-heading-link">Goldman Sachs targets leading role in active ETFs in Europe</a></div><p class="o-teaser__standfirst"><a href="/content/6c921515-b2f7-4457-87fa-f54d09e1cce1" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Competition heats up as other fund groups are poised to expand product ranges</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="6c921515-b2f7-4457-87fa-f54d09e1cce1" data-myft-ui="saved" action="/myft/save/6c921515-b2f7-4457-87fa-f54d09e1cce1" data-js-action="/__myft/api/core/saved/content/6c921515-b2f7-4457-87fa-f54d09e1cce1?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Goldman Sachs targets leading role in active ETFs in Europe to myFT for later" aria-label="Save Goldman Sachs targets leading role in active ETFs in Europe to myFT for 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class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-14T05:01:30.740Z">Friday, 14 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="eb71f9da-c28e-4018-bb3c-3a914cf93c20" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="eb71f9da-c28e-4018-bb3c-3a914cf93c20"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/eb71f9da-c28e-4018-bb3c-3a914cf93c20" data-trackable="heading-link" class="js-teaser-heading-link">China explores relaxing rules to allow multi-asset ETFs</a></div><p class="o-teaser__standfirst"><a href="/content/eb71f9da-c28e-4018-bb3c-3a914cf93c20" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Regulator aims to achieve ‘significant growth’ in index-based investment</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="eb71f9da-c28e-4018-bb3c-3a914cf93c20" data-myft-ui="saved" action="/myft/save/eb71f9da-c28e-4018-bb3c-3a914cf93c20" data-js-action="/__myft/api/core/saved/content/eb71f9da-c28e-4018-bb3c-3a914cf93c20?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save China explores relaxing rules to allow multi-asset ETFs to myFT for later" 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Securities Regulatory Commission building in Beijing"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-13T05:00:23.408Z">Thursday, 13 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="1942e614-79e4-4c12-be58-852415465c36" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="1942e614-79e4-4c12-be58-852415465c36"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/1942e614-79e4-4c12-be58-852415465c36" data-trackable="heading-link" class="js-teaser-heading-link">Trump effect tests resolve of traditional ETF investors</a></div><p class="o-teaser__standfirst"><a href="/content/1942e614-79e4-4c12-be58-852415465c36" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">The temptation to move beyond traditional buy-and-hold vehicles is likely to increase, industry observers say</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="1942e614-79e4-4c12-be58-852415465c36" data-myft-ui="saved" action="/myft/save/1942e614-79e4-4c12-be58-852415465c36" data-js-action="/__myft/api/core/saved/content/1942e614-79e4-4c12-be58-852415465c36?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F69db7df5-9bd6-45d2-837e-055b587275f9.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Traders work on the floor of the New York Stock Exchange"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-12T05:01:24.417Z">Wednesday, 12 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="598901d6-5da4-464f-af9c-9b9b9bbd1023" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="598901d6-5da4-464f-af9c-9b9b9bbd1023"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/598901d6-5da4-464f-af9c-9b9b9bbd1023" data-trackable="heading-link" class="js-teaser-heading-link">Traditional index trackers shunned in January US ETF flows</a></div><p class="o-teaser__standfirst"><a href="/content/598901d6-5da4-464f-af9c-9b9b9bbd1023" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Old-school passive vehicles grabbed less than 25% of new money, losing out to active rivals</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="598901d6-5da4-464f-af9c-9b9b9bbd1023" data-myft-ui="saved" action="/myft/save/598901d6-5da4-464f-af9c-9b9b9bbd1023" data-js-action="/__myft/api/core/saved/content/598901d6-5da4-464f-af9c-9b9b9bbd1023?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div 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aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F03541956-7c75-4edd-a358-933d369c5131.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Traders work on the floor at the New York Stock Exchange"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-ads o-ads advert advert--instream" data-o-ads-targeting="pos=top;" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-medium="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-large="false" data-o-ads-formats-extra="false" aria-hidden="true"> </div> </div> </div> </li> <li 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class="o-teaser__standfirst"><a href="/content/ac1d4bdb-ef98-4016-99c7-465ecb936b14" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Move seeks to counter drift from more traditional active funds</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="ac1d4bdb-ef98-4016-99c7-465ecb936b14" data-myft-ui="saved" action="/myft/save/ac1d4bdb-ef98-4016-99c7-465ecb936b14" data-js-action="/__myft/api/core/saved/content/ac1d4bdb-ef98-4016-99c7-465ecb936b14?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Jupiter turns to active ETF to entice investors to myFT 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on a screen."/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-12T05:00:25.136Z">Wednesday, 12 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="6f4bc545-62c8-4ed6-9a0c-c6e49cd0406e" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="6f4bc545-62c8-4ed6-9a0c-c6e49cd0406e"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/the-big-read" aria-label="Category: The Big Read">The Big Read</a></div><div class="o-teaser__heading"><a href="/content/6f4bc545-62c8-4ed6-9a0c-c6e49cd0406e" data-trackable="heading-link" class="js-teaser-heading-link">How Vanguard plans to play disruptor again</a></div><p class="o-teaser__standfirst"><a href="/content/6f4bc545-62c8-4ed6-9a0c-c6e49cd0406e" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Low fees made the group a passive investing powerhouse. But it needs to improve tech and service as it pushes into wealth management and cash accounts</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="6f4bc545-62c8-4ed6-9a0c-c6e49cd0406e" data-myft-ui="saved" action="/myft/save/6f4bc545-62c8-4ed6-9a0c-c6e49cd0406e" data-js-action="/__myft/api/core/saved/content/6f4bc545-62c8-4ed6-9a0c-c6e49cd0406e?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save How Vanguard plans to play disruptor again to myFT for later" aria-label="Save How Vanguard plans to play disruptor again to myFT for later" data-alternate-label="How Vanguard plans to play disruptor again is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="6f4bc545-62c8-4ed6-9a0c-c6e49cd0406e" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/6f4bc545-62c8-4ed6-9a0c-c6e49cd0406e" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2500%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fb04b588b-6af1-4262-b18e-ad37e9028e13.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A statue of Vanguard founder John Bogle, left, on display at the company’s headquarters in Malvern, Pennsylvania, right. Centre: a painting from the group’s nautical-themed art collection"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-11T05:00:26.707Z">Tuesday, 11 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="7b83f0f5-4d03-40c4-b79d-36cc4e247d54" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="7b83f0f5-4d03-40c4-b79d-36cc4e247d54"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/7b83f0f5-4d03-40c4-b79d-36cc4e247d54" data-trackable="heading-link" class="js-teaser-heading-link">Tuttle Capital files for ‘alien tech’ ETF</a></div><p class="o-teaser__standfirst"><a href="/content/7b83f0f5-4d03-40c4-b79d-36cc4e247d54" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">New fund to invest in reverse-engineered alien technology based on government disclosures about UFOs </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="7b83f0f5-4d03-40c4-b79d-36cc4e247d54" data-myft-ui="saved" action="/myft/save/7b83f0f5-4d03-40c4-b79d-36cc4e247d54" data-js-action="/__myft/api/core/saved/content/7b83f0f5-4d03-40c4-b79d-36cc4e247d54?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F8fbcd325-091f-4c7a-9c45-0cd64571c379.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A representation of a UFO"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-10T05:00:35.408Z">Monday, 10 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="09650a3a-c3ef-4676-941f-4a896c66724b" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="09650a3a-c3ef-4676-941f-4a896c66724b"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/09650a3a-c3ef-4676-941f-4a896c66724b" data-trackable="heading-link" class="js-teaser-heading-link">Luxembourg launches fund domicile fightback against Ireland</a></div><p class="o-teaser__standfirst"><a href="/content/09650a3a-c3ef-4676-941f-4a896c66724b" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">The Grand Duchy has lost out to its rival on passive ETFs, but is hoping to win the war with an active ETF charm offensive</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="09650a3a-c3ef-4676-941f-4a896c66724b" data-myft-ui="saved" action="/myft/save/09650a3a-c3ef-4676-941f-4a896c66724b" data-js-action="/__myft/api/core/saved/content/09650a3a-c3ef-4676-941f-4a896c66724b?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div 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data-o-date-format="date-only" datetime="2025-02-07T05:00:19.185Z">Friday, 7 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="25193997-02cd-4463-bf3d-0dba031b1584" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="25193997-02cd-4463-bf3d-0dba031b1584"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/investments" aria-label="Category: Investments">Investments</a></div><div class="o-teaser__heading"><a href="/content/25193997-02cd-4463-bf3d-0dba031b1584" data-trackable="heading-link" class="js-teaser-heading-link">How investors can harness Trump-induced volatility</a></div><p class="o-teaser__standfirst"><a href="/content/25193997-02cd-4463-bf3d-0dba031b1584" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Some want their portfolio to take cover with cash or gold — for others, it’s a huge buying opportunity </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="25193997-02cd-4463-bf3d-0dba031b1584" data-myft-ui="saved" action="/myft/save/25193997-02cd-4463-bf3d-0dba031b1584" data-js-action="/__myft/api/core/saved/content/25193997-02cd-4463-bf3d-0dba031b1584?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save How investors can harness Trump-induced volatility to myFT for later" aria-label="Save How investors can harness Trump-induced volatility to myFT for later" data-alternate-label="How investors can harness Trump-induced volatility is Saved to 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data-o-date-format="date-only" datetime="2025-02-05T05:00:09.017Z">Wednesday, 5 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="1eea3f26-0d56-4834-9024-c1438ead8bb8" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="1eea3f26-0d56-4834-9024-c1438ead8bb8"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/1eea3f26-0d56-4834-9024-c1438ead8bb8" data-trackable="heading-link" class="js-teaser-heading-link">Abrdn and JPMorgan move to bolster European active ETF suites</a></div><p class="o-teaser__standfirst"><a href="/content/1eea3f26-0d56-4834-9024-c1438ead8bb8" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Move will bring total of active fixed income ETFs offered by JPMAM in Europe to 13</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="1eea3f26-0d56-4834-9024-c1438ead8bb8" data-myft-ui="saved" action="/myft/save/1eea3f26-0d56-4834-9024-c1438ead8bb8" data-js-action="/__myft/api/core/saved/content/1eea3f26-0d56-4834-9024-c1438ead8bb8?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Abrdn and JPMorgan move to bolster European active ETF suites to myFT for later" aria-label="Save Abrdn and JPMorgan move to bolster European active ETF suites to myFT for later" data-alternate-label="Abrdn and JPMorgan move to 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o-teaser--has-image js-teaser" data-id="f964fe30-cb6e-427d-b7a7-9adf2ab8a457"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/bitcoin" aria-label="Category: Bitcoin">Bitcoin</a></div><div class="o-teaser__heading"><a href="/content/f964fe30-cb6e-427d-b7a7-9adf2ab8a457" data-trackable="heading-link" class="js-teaser-heading-link">The MicroStrategy copycats: companies turn to bitcoin to boost share price</a></div><p class="o-teaser__standfirst"><a href="/content/f964fe30-cb6e-427d-b7a7-9adf2ab8a457" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Firms buy ‘kryptonite for short sellers’ as they try to emulate US software group’s success</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="f964fe30-cb6e-427d-b7a7-9adf2ab8a457" data-myft-ui="saved" action="/myft/save/f964fe30-cb6e-427d-b7a7-9adf2ab8a457" 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data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/f964fe30-cb6e-427d-b7a7-9adf2ab8a457" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fcbefce1a-f852-4ef6-9cb4-7c77ec5eb9ff.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="MicroStrategy founder Michael Saylor with Bitcoin and MicroStrategy logos"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-04T05:00:31.785Z">Tuesday, 4 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="8a8462e1-529d-41f1-846b-390fd1846b74" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="8a8462e1-529d-41f1-846b-390fd1846b74"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/8a8462e1-529d-41f1-846b-390fd1846b74" data-trackable="heading-link" class="js-teaser-heading-link">Goldman moves into active fixed income ETFs in Europe</a></div><p class="o-teaser__standfirst"><a href="/content/8a8462e1-529d-41f1-846b-390fd1846b74" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Assets under management in active ETFs in Europe rose to $56.7bn in 2024, according to Morningstar</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="8a8462e1-529d-41f1-846b-390fd1846b74" data-myft-ui="saved" action="/myft/save/8a8462e1-529d-41f1-846b-390fd1846b74" data-js-action="/__myft/api/core/saved/content/8a8462e1-529d-41f1-846b-390fd1846b74?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Goldman moves into active fixed income ETFs in Europe to myFT for later" aria-label="Save Goldman moves into active fixed income ETFs in Europe to myFT for later" data-alternate-label="Goldman moves into active fixed income ETFs in Europe is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="8a8462e1-529d-41f1-846b-390fd1846b74" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/8a8462e1-529d-41f1-846b-390fd1846b74" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2420%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc635c948-3f28-4997-8448-9558b6b0c893.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Brokers at Frankfurt stock exchange"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-03T14:15:47.874Z">Monday, 3 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="5517f10e-6131-4052-a9d2-e0d81ff4da38" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="5517f10e-6131-4052-a9d2-e0d81ff4da38"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/c1bb5c83-dd9a-42be-8f78-c4a3fef33d08" aria-label="Category: Vanguard Group Inc">Vanguard Group Inc</a></div><div class="o-teaser__heading"><a href="/content/5517f10e-6131-4052-a9d2-e0d81ff4da38" data-trackable="heading-link" class="js-teaser-heading-link">Vanguard puts pressure on rivals with large round of fee cuts</a></div><p class="o-teaser__standfirst"><a href="/content/5517f10e-6131-4052-a9d2-e0d81ff4da38" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Money manager claims reductions will save clients $350mn this year</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="5517f10e-6131-4052-a9d2-e0d81ff4da38" data-myft-ui="saved" action="/myft/save/5517f10e-6131-4052-a9d2-e0d81ff4da38" data-js-action="/__myft/api/core/saved/content/5517f10e-6131-4052-a9d2-e0d81ff4da38?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Vanguard puts pressure on rivals with large round of fee cuts to myFT for later" aria-label="Save Vanguard puts pressure on rivals with large round of fee cuts to myFT for later" data-alternate-label="Vanguard puts pressure on rivals with large round of fee cuts is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="5517f10e-6131-4052-a9d2-e0d81ff4da38" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/5517f10e-6131-4052-a9d2-e0d81ff4da38" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2254%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fcc6cc237-5d50-4dc5-a8fc-94308f905ef6.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="The Vanguard Group logo"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-03T05:01:52.969Z">Monday, 3 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="7ba8e90b-07bc-48ad-a3c5-ba456597abcb" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="7ba8e90b-07bc-48ad-a3c5-ba456597abcb"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/fund-management" aria-label="Category: Fund management">Fund management</a></div><div class="o-teaser__heading"><a href="/content/7ba8e90b-07bc-48ad-a3c5-ba456597abcb" data-trackable="heading-link" class="js-teaser-heading-link">Trump Media’s ETF ambitions could push into Strive’s space</a></div><p class="o-teaser__standfirst"><a href="/content/7ba8e90b-07bc-48ad-a3c5-ba456597abcb" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Truth.Fi’s rollouts will potentially put it head to head with asset manager founded by Vivek Ramaswamy</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="7ba8e90b-07bc-48ad-a3c5-ba456597abcb" data-myft-ui="saved" action="/myft/save/7ba8e90b-07bc-48ad-a3c5-ba456597abcb" data-js-action="/__myft/api/core/saved/content/7ba8e90b-07bc-48ad-a3c5-ba456597abcb?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Trump Media’s ETF ambitions could push into Strive’s space to myFT for later" aria-label="Save Trump Media’s ETF ambitions could push into Strive’s space to myFT for later" data-alternate-label="Trump Media’s ETF ambitions could push into Strive’s space is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="7ba8e90b-07bc-48ad-a3c5-ba456597abcb" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/7ba8e90b-07bc-48ad-a3c5-ba456597abcb" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2569%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Ff30957d5-7645-43b2-87fb-8a449552fa3a.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Vivek Ramaswamy"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-31T05:00:44.964Z">Friday, 31 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="f03181cf-402d-4ce0-a56a-609551d65419" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="f03181cf-402d-4ce0-a56a-609551d65419"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/f03181cf-402d-4ce0-a56a-609551d65419" data-trackable="heading-link" class="js-teaser-heading-link">Hong Kong to open door to first single-stock leveraged ETFs in Asia</a></div><p class="o-teaser__standfirst"><a href="/content/f03181cf-402d-4ce0-a56a-609551d65419" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Managers will be allowed to launch leveraged and inverse ETFs tracking single stocks overseas</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="f03181cf-402d-4ce0-a56a-609551d65419" data-myft-ui="saved" action="/myft/save/f03181cf-402d-4ce0-a56a-609551d65419" data-js-action="/__myft/api/core/saved/content/f03181cf-402d-4ce0-a56a-609551d65419?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Hong Kong to open door to first single-stock leveraged 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F071d4fcc-376f-43c6-8f49-aa0d85d7b2a4.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A man walks past the Hong Kong Exchange Square building in Central of Hong"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-ads o-ads advert advert--instream" data-o-ads-targeting="pos=mid1;" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-medium="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-large="false" data-o-ads-formats-extra="false" aria-hidden="true"> </div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-30T05:00:10.927Z">Thursday, 30 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="ff25978d-0d89-4b07-b8b9-4bbe92458ead" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="ff25978d-0d89-4b07-b8b9-4bbe92458ead"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/investing-in-funds" aria-label="Category: Investing in funds">Investing in funds</a></div><div class="o-teaser__heading"><a href="/content/ff25978d-0d89-4b07-b8b9-4bbe92458ead" data-trackable="heading-link" class="js-teaser-heading-link">Chinese managers to cut QDII fund fees for domestic investors</a></div><p class="o-teaser__standfirst"><a href="/content/ff25978d-0d89-4b07-b8b9-4bbe92458ead" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">The funds, which invest in overseas securities, are expected to charge 1.2% or less</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="ff25978d-0d89-4b07-b8b9-4bbe92458ead" data-myft-ui="saved" action="/myft/save/ff25978d-0d89-4b07-b8b9-4bbe92458ead" data-js-action="/__myft/api/core/saved/content/ff25978d-0d89-4b07-b8b9-4bbe92458ead?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Chinese managers to cut QDII fund fees for domestic investors to myFT for later" aria-label="Save Chinese managers to cut QDII fund fees for domestic investors to 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China"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-29T05:00:47.837Z">Wednesday, 29 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="8aa30442-3063-46c8-91e0-732d23af18cf" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="8aa30442-3063-46c8-91e0-732d23af18cf"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/fund-management" aria-label="Category: Fund management">Fund management</a></div><div class="o-teaser__heading"><a href="/content/8aa30442-3063-46c8-91e0-732d23af18cf" data-trackable="heading-link" class="js-teaser-heading-link">Demand for sanctions compliance advice rises sharply</a></div><p class="o-teaser__standfirst"><a href="/content/8aa30442-3063-46c8-91e0-732d23af18cf" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Nearly 8% of ETFs include sanctioned securities and there has been a 700% rise in such securities in past two years </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="8aa30442-3063-46c8-91e0-732d23af18cf" data-myft-ui="saved" action="/myft/save/8aa30442-3063-46c8-91e0-732d23af18cf" data-js-action="/__myft/api/core/saved/content/8aa30442-3063-46c8-91e0-732d23af18cf?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F7e6dc989-e200-4418-8934-0df499d9a3c3.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Donald Trump and Vladimir Putin"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-29T05:00:00.000Z">Wednesday, 29 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="79af2f16-170f-4f28-918c-dc33229a2ffd" data-stream-item> <div class="o-teaser o-teaser--audio o-teaser--small o-teaser--has-image js-teaser" data-id="79af2f16-170f-4f28-918c-dc33229a2ffd"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/ft-news-briefing" aria-label="Category: FT News Briefing podcast">FT News Briefing podcast</a><span class="o-teaser__tag-suffix">11 min listen</span></div><div class="o-teaser__heading"><a href="/content/79af2f16-170f-4f28-918c-dc33229a2ffd" data-trackable="heading-link" class="js-teaser-heading-link" aria-label="Listen to podcast Inside the Trump tariff debate">Inside the Trump tariff debate</a></div><p class="o-teaser__standfirst"><a href="/content/79af2f16-170f-4f28-918c-dc33229a2ffd" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">US Treasury secretary wants levies to rise month by month, starting at 2.5%</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="79af2f16-170f-4f28-918c-dc33229a2ffd" data-myft-ui="saved" action="/myft/save/79af2f16-170f-4f28-918c-dc33229a2ffd" data-js-action="/__myft/api/core/saved/content/79af2f16-170f-4f28-918c-dc33229a2ffd?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" 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class="o-teaser__tag" data-trackable="teaser-tag" href="/etf-stream" aria-label="Category: Exchange traded funds">Exchange traded funds</a></div><div class="o-teaser__heading"><a href="/content/f857ee8c-c2ba-441f-b392-57adec640e15" data-trackable="heading-link" class="js-teaser-heading-link">Memecoin ETF filings spark concerns over ‘casino-type’ speculation</a></div><p class="o-teaser__standfirst"><a href="/content/f857ee8c-c2ba-441f-b392-57adec640e15" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Proposed funds are among multiple cryptocurrency ETFs filed in wake of Trump’s victory</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="f857ee8c-c2ba-441f-b392-57adec640e15" data-myft-ui="saved" action="/myft/save/f857ee8c-c2ba-441f-b392-57adec640e15" data-js-action="/__myft/api/core/saved/content/f857ee8c-c2ba-441f-b392-57adec640e15?method=put" data-myft-ui-save-config=""> <input 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href="/content/f857ee8c-c2ba-441f-b392-57adec640e15" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2793%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fb7dfff18-222b-43e5-b553-c7b810106611.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Representation of cryptocurrency Dogecoin"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-27T12:36:31.025Z">Monday, 27 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="dc193d22-3221-4945-b0b1-430a12966d2f" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="dc193d22-3221-4945-b0b1-430a12966d2f"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Markets Insight</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/toby-nangle" aria-label="Category: Toby Nangle">Toby Nangle</a></div><div class="o-teaser__heading"><a href="/content/dc193d22-3221-4945-b0b1-430a12966d2f" data-trackable="heading-link" class="js-teaser-heading-link">DeepSeek sell-off shows the risks of a concentrated US stock market</a></div><p class="o-teaser__standfirst"><a href="/content/dc193d22-3221-4945-b0b1-430a12966d2f" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Should investors turn to equally weighted index products?</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="dc193d22-3221-4945-b0b1-430a12966d2f" data-myft-ui="saved" 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datetime="2025-01-27T05:07:40.714Z">Monday, 27 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="4ff15648-8654-41eb-b6db-36beb35f0acb" data-stream-item> <div class="o-teaser o-teaser--package o-teaser--small o-teaser--has-image js-teaser" data-id="4ff15648-8654-41eb-b6db-36beb35f0acb"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/reports" aria-label="Category: Special Report">Special Report</a></div><div class="o-teaser__heading"><a href="/ftfm-fixed-income" data-trackable="heading-link" class="js-teaser-heading-link">FTfm: Fixed Income</a></div><p class="o-teaser__standfirst"><a href="/ftfm-fixed-income" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Will Donald Trump’s presidency be good or bad for fixed income investors and how should they position themselves? 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o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-27T05:01:00.636Z">Monday, 27 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="f8e94752-0a09-413c-ab4b-9f8be9e79894" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="f8e94752-0a09-413c-ab4b-9f8be9e79894"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Special Report</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/content/4ff15648-8654-41eb-b6db-36beb35f0acb" aria-label="Category: FTfm: Fixed Income">FTfm: Fixed Income</a></div><div class="o-teaser__heading"><a href="/content/f8e94752-0a09-413c-ab4b-9f8be9e79894" data-trackable="heading-link" class="js-teaser-heading-link">‘Barbell’ effect helps fixed income newcomers usurp traditional bond funds</a></div><p class="o-teaser__standfirst"><a href="/content/f8e94752-0a09-413c-ab4b-9f8be9e79894" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Cheaper passive funds at one end of the market and alternative assets at the other echo the revolution in equities</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="f8e94752-0a09-413c-ab4b-9f8be9e79894" data-myft-ui="saved" action="/myft/save/f8e94752-0a09-413c-ab4b-9f8be9e79894" data-js-action="/__myft/api/core/saved/content/f8e94752-0a09-413c-ab4b-9f8be9e79894?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F79427616-0f30-462a-8ba6-9417ee46a5d2.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A close-up of a barbell loaded with weight plates and secured with a red clamp, positioned on a rack in a gym setting"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-24T05:00:56.926Z">Friday, 24 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="1ea0e9af-f277-48ac-9a75-89ad00d31ded" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="1ea0e9af-f277-48ac-9a75-89ad00d31ded"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stuart-kirk" aria-label="Category: Stuart Kirk">Stuart Kirk</a></div><div class="o-teaser__heading"><a href="/content/1ea0e9af-f277-48ac-9a75-89ad00d31ded" data-trackable="heading-link" class="js-teaser-heading-link">Active ETFs are a wheeze — an extremely clever one</a></div><p class="o-teaser__standfirst"><a href="/content/1ea0e9af-f277-48ac-9a75-89ad00d31ded" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">They undercut traditional managers while upselling traditional ETF investors</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="1ea0e9af-f277-48ac-9a75-89ad00d31ded" data-myft-ui="saved" action="/myft/save/1ea0e9af-f277-48ac-9a75-89ad00d31ded" data-js-action="/__myft/api/core/saved/content/1ea0e9af-f277-48ac-9a75-89ad00d31ded?method=put" data-myft-ui-save-config=""> <input 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data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F9e597d49-3c43-499f-9ff7-e75c408d8d38.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-24T05:00:56.904Z">Friday, 24 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="e23897c4-0d9d-4b6a-9c43-590870e4eb5e" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="e23897c4-0d9d-4b6a-9c43-590870e4eb5e"><div 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o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/middle-east-north-africa" data-trackable="Middle East & North Africa">Middle East & North Africa</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/us" data-trackable="US">US</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-2" data-trackable="sub-level-toggle | US">Show more US</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-2" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-economy" data-trackable="US Economy">US Economy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/investing-in-america" data-trackable="Investing in America">Investing in America</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-companies" data-trackable="US Companies">US Companies</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-politics-policy" data-trackable="US Politics & Policy">US Politics & Policy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-presidential-election-2024" data-trackable="US Presidential Election 2024">US Presidential Election 2024</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/companies" data-trackable="Companies">Companies</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-3" data-trackable="sub-level-toggle | Companies">Show more Companies</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-3" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/energy" data-trackable="Energy">Energy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/financials" data-trackable="Financials">Financials</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/health" data-trackable="Health">Health</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/industrials" data-trackable="Industrials">Industrials</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/media" data-trackable="Media">Media</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/professional-services" data-trackable="Professional Services">Professional Services</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/retail-consumer" data-trackable="Retail & Consumer">Retail & Consumer</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/technology-sector" data-trackable="Tech Sector">Tech Sector</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/telecoms" data-trackable="Telecoms">Telecoms</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/transport" data-trackable="Transport">Transport</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/technology" data-trackable="Tech">Tech</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-4" data-trackable="sub-level-toggle | Tech">Show more Tech</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-4" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/artificial-intelligence" data-trackable="Artificial intelligence">Artificial intelligence</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/semiconductors" data-trackable="Semiconductors">Semiconductors</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/cyber-security" data-trackable="Cyber Security">Cyber Security</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/social-media" data-trackable="Social Media">Social Media</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/markets" data-trackable="Markets">Markets</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-5" data-trackable="sub-level-toggle | Markets">Show more Markets</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-5" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/alphaville" data-trackable="Alphaville">Alphaville</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://markets.ft.com/data" data-trackable="Markets Data">Markets Data</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/crypto" data-trackable="Crypto">Crypto</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/capital-markets" data-trackable="Capital Markets">Capital Markets</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/commodities" data-trackable="Commodities">Commodities</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/currencies" data-trackable="Currencies">Currencies</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/equities" data-trackable="Equities">Equities</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-wealth-management" data-trackable="Wealth Management">Wealth Management</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/moral-money" data-trackable="Moral Money">Moral Money</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--selected o-header__drawer-menu-link--child" href="/etf-hub" data-trackable="ETF Hub" aria-label="ETF Hub, current page" aria-current="page">ETF Hub</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/fund-management" data-trackable="Fund Management">Fund Management</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-trading-room" data-trackable="Trading">Trading</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/climate-capital" data-trackable="Climate">Climate</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/opinion" data-trackable="Opinion">Opinion</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-7" data-trackable="sub-level-toggle | Opinion">Show more Opinion</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-7" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/columnists" data-trackable="Columnists">Columnists</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-view" data-trackable="The FT View">The FT View</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/the-big-read" data-trackable="The Big Read">The Big Read</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/lex" data-trackable="Lex">Lex</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/obituaries" data-trackable="Obituaries">Obituaries</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/letters" data-trackable="Letters">Letters</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/lex" data-trackable="Lex">Lex</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/work-careers" data-trackable="Work & Careers">Work & Careers</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-9" data-trackable="sub-level-toggle | Work & Careers">Show more Work & Careers</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-9" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://rankings.ft.com/business-education" data-trackable="Business School Rankings">Business School Rankings</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-education" data-trackable="Business Education">Business Education</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://rankings.ft.com/incubator-accelerator-programmes-europe" data-trackable="Europe's Start-Up Hubs">Europe's Start-Up Hubs</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/entrepreneurship" data-trackable="Entrepreneurship">Entrepreneurship</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/recruitment" data-trackable="Recruitment">Recruitment</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-books" data-trackable="Business Books">Business Books</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-travel" data-trackable="Business Travel">Business Travel</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/working-it" data-trackable="Working It">Working It</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/life-arts" data-trackable="Life & Arts">Life & Arts</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-10" data-trackable="sub-level-toggle | Life & Arts">Show more Life & Arts</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-10" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/arts" data-trackable="Arts">Arts</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/books" data-trackable="Books">Books</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/food-drink" data-trackable="Food & Drink">Food & Drink</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/magazine" data-trackable="FT Magazine">FT Magazine</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/house-home" data-trackable="House & Home">House & Home</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/style" data-trackable="Style">Style</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/travel" data-trackable="Travel">Travel</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/globetrotter" data-trackable="FT Globetrotter">FT Globetrotter</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/personal-finance" data-trackable="Personal Finance">Personal Finance</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-11" data-trackable="sub-level-toggle | Personal Finance">Show more Personal Finance</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-11" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/mortgages" data-trackable="Property & Mortgages">Property & Mortgages</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/investments" data-trackable="Investments">Investments</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/pensions" data-trackable="Pensions">Pensions</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/tax" data-trackable="Tax">Tax</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/banking-savings" data-trackable="Banking & Savings">Banking & Savings</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/advice-comment" data-trackable="Advice & Comment">Advice & Comment</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/next-act" data-trackable="Next Act">Next Act</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/htsi" data-trackable="HTSI">HTSI</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/special-reports" data-trackable="Special Reports">Special Reports</a></li></ul><h2 id="ft-recommends" class="o-header__drawer-menu-item o-header__drawer-menu-item--heading">FT recommends</h2><ul aria-labelledby="ft-recommends" class="o-header__drawer-menu-list"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/alphaville" data-trackable="Alphaville">Alphaville</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/ft-edit" data-trackable="FT Edit">FT Edit</a></li><li class="o-header__drawer-menu-item"><a 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