As ETFs blow past hedge funds, Paul Singer has had enough, says they are ‘devouring capitalism’
- Elliott Management's Paul Singer says the move to passive investing is "destructive to the growth-creating and consensus-building prospects of free market capitalism."
- ETFs globally now have $1 trillion more in assets than hedge funds, a report last week revealed.
- Approximately $2.2 trillion of assets are indexed to the S&P 500 now, according to the S&P Dow Jones Indices.