BlackRock Plans First Mutual Fund-to-ETF Flip In Sign of Times
- Asset manager expects conversion to take place in November
- Trillions have exited mutual funds for ETFs over past decade
BlackRock Inc. laid out plans for its first mutual fund-to-ETF conversion this week, joining a growing list of asset managers who have made the jump amid a one-way flood of cash between the structures.
The world’s largest asset manager will flip the more than $700 million BlackRock International Dividend Fund into an exchange-traded fund in November, according to a filing with the Securities and Exchange Commission this week.