Investment

So-called vaccine securities can finance research and be issued at interest rates on par with what governments pay for general-purpose borrowing.

The top 20 ETFs to debut in 2020 by total fund assets include only three products from BlackRock Inc. and none from Vanguard Group or State Street Corp., according to data compiled by Bloomberg.

ETF demand was broad based in 2020, as fixed income and commodity ETFs pulled in impressive net inflows relative to their size. In addition, investors continued to choose equity ETFs over often more expensive mutual funds.

The unprecedented surge in SPACs was fueled in part by a hunt for alternative investments that was spurred by the coronavirus pandemic

Low-risk options for those willing to settle for low reward.

Boutique and mid-sized asset managers can revive it by developing the niche strategies most in demand from advisors and their clients.