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ETF

Hvor dygtige er dine Exchange Traded Funds?

Det lyder enkelt at ramme markedsafkastet, men flere faktorer gør det svært i praksis.

Nikolaj Holdt Mikkelsen, CFA 18/02/2013

Det kan efterhånden næppe komme bag på mange, at de såkaldte exchange traded products, også kaldet ETP’ere, er blandt de mest hastige voksende investeringsprodukter. Det skyldes en til stadighed større efterspørgsel fra investorerne.

I 2007 udgjorde ETP markedet på global plan 3.000 mia. kr., mens markedet i dag er vokset til godt 10.000 mia. kr. Der er tale om en firedobling over en periode, hvor det traditionelle fondsmarked er vokset en halv gang. I dag udgør formuen i ETP’erne 8 pct. af markedet for forvaltede produkter globalt set.

Investorerne bliver tiltrukket af den lette adgang til en lang palette af aktivklasser til en attraktiv pris, som ETP’erne byder på. Med få undtagelser er hovedparten ofte indeksprodukter, hvor ambitionen er et afkast tæt på markedsafkastet. Her er lave omkostninger relativt til traditionelle fonde blandt ETP’ernes mest attraktive egenskaber.

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Nikolaj Holdt Mikkelsen, CFA

Nikolaj Holdt Mikkelsen, CFA  

Chefanalytiker i Morningstar Danmark

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