A WEE DRAM
CHRIS GILMOUR: Exchange-traded funds in focus as chapter launch gives women leg up in investment
I am writing this week’s column in my capacity as a member of Women in ETFs. Strange, you might think — a man writing a column for what appears to be a women-only club. But stay with me and you’ll see how this apparent paradox plays out. I attended an exchange-traded funds (ETF) conference at the JSE last week, organised by the entrepreneurial head of CoreShares, Gareth Stobie. It was an excellent event, with the keynote address delivered by Deborah Fuhr, an acknowledged guru in the ETF arena, from ETFGI in London. Many statistics show a passive strategy — ETFs and other index-tracking products — outperforms active investing under most conditions. Generally, the only time this does not happen is when equity markets are falling and the active guys can indeed outperform their benchmarks, even if that just means losing money slower than the index.Fuhr demonstrated this truism with numbers from S&P Indices Versus Active, showing in virtually all global equity markets, passive beats acti...
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