What are we most thankful for at the Yinzer Analyst this year? That sometimes we do good work that stands up and gets noticed. Not take all the credit for this, but our recent post on how to spot managers who are really closet indexers and charging you serious fees in the process has gotten some serious notice and someone is doing something about it.
European markets watchdog examines closet trackers
A letter from Steven Maijoor, chairman of the European Securities and Markets Authority, to consumer organisation Better Finance For All, seen by FTfm, said the regulator was “gathering more information to assess the scope of this issue”.
Better Finance wrote to Mr Maijoor last month highlighting an investigation by Finanstilsynet, the Danish regulator, that found overpriced closet index funds were widespread.”
Plenty more that you can read about here.
And to all those mutual fund investors out there….you’re welcome.