It’s usually 'no fun' to be a small fund manager, Jan van Eck says — except right now.
In the world of exchange-traded funds, the big keep getting bigger, not just drawing more of the investing pie but also making a mark on how the industry defines itself. Meanwhile, several funds with exposure to commodities have spent the past several weeks blowing up.
MarketWatch spoke with van Eck about the ETF ecosphere, what investors need to know about China, and how the Federal Reserve has managed the market shocks created by the coronavirus crisis. The interview that follows has been lightly edited for clarity. It’s really hard to know the future, and it’s really hard to know what’s going to blow up. The rules and the labeling doesn’t really get you there. Let me give you one example. People largely got access to commodities through commodities futures contracts like the United States Oil Fund USO, -3.87%. We knew that the shape of the futures curve is not something that any investor could see. But a lot of people brought these products to market saying, actually the curve gives you this advantage.
Having said that, I think now we’re in that 20% of the time where I’m actually happy to be a private firm. In this kind of turbulent environment we don’t have to worry about other kinds of nonsense — hiring freezes or whatever you might get in a larger organization. We can just keep on focusing on our growth plans. That’s a plus. Obviously having gold in our mix is a positive because our AUM — I’m sure it plummeted dramatically in March but has bounced back a little bit so that helps.
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