Wealth management funds targeting emerging markets have seen a surge in Brazilian equities exposure, driven by better-than-expected GDP data and favorable commodity prices supporting export revenues. And despite all the economic downturns that have occurred since, not one has remotely recalled the ferocity of the Great Depression, said Lynch. “We had a lot of tests. We had many opportunities to have a big one. We’ve had bad presidents, bad Congresses, but we made it through.” The ETF share class allows a share class of an existing mutual fund to trade as an ETF. This is already authorised in Europe, Canada and Australia but had not been approved by the SEC. European wealth management funds are rotating out of cyclical sectors into quality dividend-paying stocks, citing ECB policy that may remain restrictive into early
