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Global X Top Guru Holdings Index ETF crosses USD100m

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Global X Funds’ Top Guru Holdings Index ETF (GURU) has crossed the USD100m threshold.

 
It has also been ranked the second best-performing out of 938 large cap core mutual funds and ETFs by Lipper, the fund information and fund ratings company.
 
GURU, which invests in the largest equity holdings of established hedge funds, serves as a core domestic equity allocation, providing investor access to investment ideas gathered from some of the industry’s top hedge funds.
 
"Academic and industry research shows that there is significant information value in 13F disclosures – what some of investing’s best minds are buying and selling," says Global X chief executive Bruno del Ama. "GURU is the culmination of extensive research to optimise the value derived from the information of what these investment gurus are buying."
 
The index methodology is systematically applied each quarter to the information in the 13F filings. The index employs a number of filters to identify the hedge fund gurus and creates an equal-weighted index with the largest, and therefore high conviction, positions disclosed by these hedge funds. By screening the 13F filings, GURU aims to offer investors a diversified portfolio of alpha-producing, liquid US-listed equity positions.
 
"We’ve been extremely pleased that investors are responding so strongly to the fund and that we are able to deliver such strong returns," says Justin Young, head of capital markets at Global X.
 
From the fund’s inception June 4, 2012 through 31 July 2013, GURU had a total return of 53.0 per cent, outperforming the S&P 500 by 18.5 per cent. Over the last 12 months, GURU has returned 47.5 per cent.

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