(Bloomberg) Wealthfront Inc. is known for doing the most boring type of investing possible—sticking clients’ money in mutual funds and ETFs and taking a small fee. But last year it launched a new product that departed from that model. The Wealthfront Risk Parity Fund, announced in early 2018, was styled after the esoteric calculations of famous hedge fund manager Ray Dalio. Since then, the fund has amassed more than $860 million in assets under management.
Wealthfront Created a Hedge Fund-Style Product. It’s Down About 5%
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