I think Black Rockck's entrance was a big deal. And look, Larry Frink, if you think about his career, what an impressive entrepreneur. He took that firm and he really disrupted the mutual fund industry in just a massive way and has made his fortune by doing that.Most people probably his age with the type of wealth that he's created, they probably, I want to say, would gotten fat and lazy, but they probably would have declared victory and gone home. And I think he rightly saw this technology as something tha ...

2025 年 08 月 25 日 载 9T 相关研究 证券分析师 沈思逸 A0230521070001 shensy@swsresearch.com 邓虎 A0230520070003 denghu@swsresearch.com 联系人 沈恩逸 (8621)23297818× shensy@swsresearch.com 美国 ETF 创新产品：杠杆反向产品密集发行。 上周美国共 30 只新发产品，发行数量有所 O 增加, 杠杆反向类产品仍然较多; Tidal 上周发行 2 只主动 ETF , 由子管理人 SMART 管理, 分别采用趋势和成长策略，管理人先根据市值、流动性筛选出 800、850 只股票构成大股 票池，再根据动量、成长指标进一步筛选，最后主动选择 25、30 只管理人认为能战胜标 普 500 的股票。 申万宏源研究微信服务 请务必仔细阅读正文之后的各项信息披露与声明 杠杆反向产品密集发行 海外创新产品周报 20250825 美国 ETF 资金流向：股票 ETF 流入平稳。 上周股票 ETF 流入维持在百亿美元以上，数字 ● 货币 ETF 小幅流出；上周先锋的标普 500 ETF 流入最多，罗 ...