Traditional mutual fundsters aren't the only ones with ETFs nipping at their heels in the public eye.
In his latest column John Rekenthaler
, vice president of research for Morningstar
the rise of "guru" ETFs that try to mimic hedge funds' portfolio successes, but without the hedge fund price. Though he's a bit skeptical, Rekenthaler concludes that, "of the two choices, the ETF seems ... more attractive."
"It can be easily traded, there's no danger of fraud, and its after-expenses performance likely will be competitive — if not superior — with that of the leading hedge funds," Rekenthaler writes.
Rekenthaler points to Felix Salmon's
case for guru ETFs. And Rekenthaler also highlights Cliff Asness
], a hedge fund PM who also runs mutual funds that try to mimic hedge fund strategies.
Neil Anderson, Managing Editor
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