The curated database of hedge funds that publish investor letters. Research by geography, strategy, and schools of thought.
| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Aug 18, 2026
The ETF industry is generating strong momentum through product innovation and structural evolution. Over half of firms believe appropriately structured products belong within the ETF wrapper, evidenced by autocallable ETFs entering Europe and the SEC approval of ETF and mutual fund share class structures reshaping the US market. Swap-based ETFs are valued primarily for accessing strategies difficult to replicate physically. Private credit ETFs face significant structural barriers with 90% of network members citing the tension between daily liquidity requirements and illiquid underlying assets. Tokenisation is emerging as a critical long-term development, though regulatory clarity and infrastructure readiness remain key barriers. Nearly half the network expects tokenised ETFs to represent meaningful market share within three to five years. Digital asset ETFs are viewed as diversifiers within multi-asset portfolios, though institutional adoption remains cautious. The industry expects consolidation primarily among issuers as larger firms benefit from operational efficiencies. Regulatory divergence is prompting regionalized product strategies. Industry sentiment remains strongly positive with 80% optimistic about the next three months, supported by robust inflows and continued innovation.
The ETF industry is experiencing accelerating product innovation and structural evolution, with firms expanding the boundaries of the ETF wrapper to include autocallable structures, private credit access, and tokenised settlement while navigating regulatory divergence across major jurisdictions.
The ETF industry outlook remains strongly positive with 80% of respondents optimistic about the next three months, up 10% from the previous period. The industry is generating its own momentum through product innovation, with firms increasingly comfortable expanding the boundaries of the ETF wrapper. Tokenisation is emerging as one of the most important long-term developments, though practical implementation faces regulatory and infrastructure barriers. Firms are adapting to volatility through diversification and enhanced risk management rather than reducing activity, with the most common response being expansion of geographic and thematic ETF offerings to capture changing investor flows.
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