Mutual Funds

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One Stack for Mutual Funds, ETFs and Private Assets

Why multi-asset, multi-wrapper control is becoming a strategic capability Asset managers have added products faster than they have redesigned the operating model behind them. Mutual funds, ETFs and private-market vehicles can now sit side by side, often supported by different systems, data models and workflows. The result is familiar: reconciliation effort, duplicated controls, fragmented reporting

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The Great Fund Wrapper Migration: Why Mutual Funds Are Running Out of Road

US-listed ETFs pulled in a record $1.49 trillion in 2025, the second straight year inflows cleared $1 trillion, and industry assets have since pushed past $15 trillion. Mutual funds spent the same eleven months bleeding $551 billion. The gap in flows between the two — $1.79 trillion in 2025 alone — has nearly doubled from

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