ETP fixed income trend points to dichotomy

Growth in exchange-traded products (ETP) this year has been led by fixed income, although quirkily most money has been drawn into opposite ends of the risk spectrum. Meanwhile, Dan Morillo, global head of investment research for iShares, defends against an accusation that ETPs are not as cheap as providers would have people believe. Data from BlackRock, whose exchange-traded funds unit iShares is the world’s largest with $628 billion in AUM, finds that $85.3 billion in net new a…