Terry Smith: ETF popularity has hindered performance on emerging equity trust
EMs saw significant ETF inflows
Terry Smith
Fundsmith's Terry Smith has blamed the rise of ETFs for the "frustrating" underperformance in his Fundsmith Emerging Equities Trust (FEET) last year.
Speaking to investors this week, Smith (pictured) said actively-managed emerging markets funds had seen outflows of $20bn last year, which were then re-invested in emerging market ETFs, according to data...
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