More brokers look to ETFs to replace hedge funds

Reuters – As wealthy investors stream out of hedge funds this year, Wall Street is trying to lure them back with a much simpler product: exchange-traded funds.

Most of the new programs, like one introduced by Barclays Wealth last week, use active managers who allocate clients’ money into various passive index-based ETFs. By relying on ETFs, which can be easily bought and sold at a moment’s notice, participants may avoid problems experienced by investors in hedge funds that barred them from withdrawing money last year.

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