The most recent rebalance of the Global X Guru Index exchange-traded fund (GURU) saw 11 additions and 13 removals from the fund, while 45 components remained unchanged.
GURU sector allocation reveals that hedge fund managers are overweighting industrials with their highest conviction ideas.
The overweight in the industrials sector could represent a bet from hedge fund managers on a strengthening economy, particularly in domestic manufacturing.
During Q2 2014, GURU celebrated its two year anniversary. Since the fund’s inception, GURU has returned over 86 per cent and reached nearly USD500m in assets under management.
