Macquarie will offer investors exposure to its sophisticated computer-driven share-trading strategies for management fees close to zero in a bid to seize market share in the fast-growing exchange-traded fund sector.
The homegrown investment giant’s aggressive push into the sector could stoke a price war across the Australian funds management industry hit by years of fee compression, which fed the demise of the 138-year-old Perpetual funds management brand last week.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
