Matt Barry says “about 600 ETFs came to market” in 2024, with the majority of them being actively managed. He discusses efforts to convert mutual funds into ETFs as demand for active management rises, allowing fund managers to use ETF tools. On the other hand, he makes the argument for mutual funds, which he says have more leeway in investing in smaller companies. He points out interest in “active fixed income in particular” within the $100 billion in flows this year.