Tue, 05/08/2014 - 06:01
Global X Funds, the New York-based provider of exchange-traded funds (ETFs), is celebrating the second anniversary of the Global X Guru Index ETF.
The fund has outperformed the S&P 500 during the second quarter of 2014.
The S&P 500 returned over 5.2 per cent during the quarter, while GURU returned 7.1 per cent. GURU has outpaced the S&P 500 since the fund's inception on 4 June 2012 with 87.17 per cent versus 59.47 per cent.
In its two years since coming to market, GURU has grown to USD500 million in assets under management and is the largest ETF to track the quarterly 13F filings of hedge funds.
GURU taps into high conviction stock holdings found in the 13F filings of a select group of large hedge fund managers, using a proprietary methodology to sort through their long equity positions. Earlier in the year, Global X Funds introduced Global X Guru Small Cap Index ETF (GURX) and Global X Guru International Index ETF (GURI), which use similar methodologies and focus on the small cap and international segments, respectively.
Over the past year, GURU has ranked among the top 20 per cent US large-cap core funds, according to Lipper.
Bruno del Ama, chief executive officer of Global X Funds, says: "The first half of 2014 had been challenging for many hedge funds, however, their high conviction, low turnover stocks started to play out over the second quarter. GURU is able to smartly access ideas of some of the world's most sophisticated money managers by isolating those picks."
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