Monday, 24 January 2011

Transparency & Choice of Investment Products

Cái gì cũng có 2 mặt, transparency cũng vậy.

Đây là case của các ETF đối với commodity.

Commodities ETFs can also suffer because of their transparency — namely their roll-over dates of their contracts are known by the market.

“The ETFs are so transparent that they were easily gamed,” said James Shelton, chief investment officer of Houston-based invest Kanaly Trust, which manages $1.6 billion for clients. “Mutual funds have done a better job of hiding what they’re doing.”

Tuy nhiên, thật ra tôi không nghĩ rằng nguyên nhân chính là nằm ở việc các ETF transparent hơn các mutual fund. Nguyên nhân lớn có thể nằm ở đây:

Shelton said he also prefers commodities mutual funds because many commodities ETFs are fairly new.

“Mutual funds have a better track record of performing across different markets,” he said.

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