Are etfs the new buzzword for 2002?

You might have thought that hedge funds were the hottest new US financial invention showing growth at the moment. But exchange traded funds (etfs) are proving increasingly popular ' and recent findings show that hedge fund managers are contributing to their growth. Invented in 1993 in the US and introduced into Europe in 2000, etfs are, as I am sure you all know, pooled funds based on indices. They are quoted companies but because of a snazzy bit of structuring they don't suffer the vicissitudes

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