EM fund managers: genuinely active or closet trackers? | beyondbrics:
"How much bang do fund managers give for their investors’ bucks? It’s a question that has provoked plenty of debate in the FT recently, prompted not least by the “scandalous index cloning epidemic” in which supposedly active managers charge high fees for simply following a benchmark.
EM investors are far from immune. So they may be interested to hear of a new service offered by Copley Fund Research, which tracks the performance of 100 of the biggest global emerging market equity funds, with a combined $265bn of assets under management.
Copley promises to use two measures “to rank how active EM funds are in relation to the benchmark MSCI EM index. This is in reaction to a growing concern from investors over certain active funds charging higher fees for what is essentially a passive strategy.”"
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