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FYI: ETF managed portfolios are investment strategies that typically have more than 50% of portfolio assets invested in exchange-traded funds. Primarily available as separate accounts, these portfolios represent one of the fastest-growing segments of the managed-account universe. Professional money managers are packaging portfolios of ETFs into investment strategies to meet a wide array of investor and advisor demands. Regards, Ted http://corporate.morningstar.com/US/documents/ResearchPapers/ETFMP_Landscape_Q32014.pdf