BlackRock Cuts Europe ETF Fees in Race With Vanguard for Assets - Bloomberg

BlackRock Cuts Europe ETF Fees in Race With Vanguard for Assets - Bloomberg:



"BlackRock Inc. (BLK), the world’s biggest provider of exchange-traded funds, is creating a new low-fee lineup of European ETFs in a race against Vanguard Group Inc. for the region’s emerging class of retail investors.



BlackRock’s iShares unit will cut fees by as much as 58 percent on six existing European ETFs and introduce eight new ones, the New York-based firm said in a press release today, the first day of the products’ trading. The world’s biggest money manager is replicating an approach it took in 2012 when it created its “core” series of U.S. funds targeted at price-conscious individual investors.



“ETFs are entering a new phase in Europe,” Rachel Lord, head of iShares for Europe, the Middle East and Asia, said in the statement. More clients are moving to products with passive investment strategies, using ETFs “to build low cost and diversified portfolios for the long term,” she said"



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