NEW YORK (Reuters) – The largest U.S. college endowment funds are pulling back their holdings of exchange-traded funds even as they invest more money in passive strategies overall, a move that may help bolster traditional mutual fund managers at a time when ETF providers like BlackRock Inc are seeing the majority of investor inflows.

The 10 largest higher education endowment funds in the United States now have an average of 14.4 percent of their direct equity portfolios in ETFs, a 15 percent decline from this time two years ago, according to a Reuters analysis of U.S. Securities and Exchange Commission filings. These filings do not reflect an en…
Reuters: Money