If you’re having trouble tracking all of the handpicked investments from top hedge fund managers, a pair of ETFs will do it for you.
Global X Funds, a New York, NY-based ETF manager, unveiled the Global X Top Guru Holdings Index ETF (GURU). GURU attempts to mimic the holdings of hedge funds with the “highest conviction ideas.”
The fund follows a proprietary index called the “Top Guru Holdings Index,” which combs through investment holdings from a select pool of hedge funds where the 13F information is most valuable. Hedge funds with high turnover and non-concentrated positions are eliminated from the pool.
Currently, the new fund holds 51 stocks. The largest industry sectors represented are technology (21.57%), financials (17.05%) and industrials (15.09%). GURU charges annual expenses of 0.75% and rebalances its holdings quarterly.