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I've been curious about this since the Exchange Traded Funds started hitting
the big time. How does the manager of the "trust" or "fund" benefit from
managing it's existence? For example, Merrill-Lynch doesn't benefit
directly from my purchase of one of their HOLDR's ETF, but Merrill-Lynch
didn't create the HOLDR's just for kicks. Ditto for Barclay's and iShares.
What's their upside?
Kent
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