New Source ETF tracks investment ideas from top European brokers

Source has listed an ETF in Germany that tracks an index which combines brokers' ideas to generate alpha while behaving like a benchmark index.

Source's Hood says the ETF acts like a benchmark with added alpha

Exchange-traded fund (ETF) provider Source has created a fund which tracks an index of the top ideas from 60 leading European brokers.

The Man GLG Europe Plus Index was created by Man Systematic Strategies (MSS), a group which combines hedge fund managers GLG, AHL and Man Multi-Manager.

The underlying strategy is one that has been run by GLG for the past three to four years, says Ted Hood, chief executive of Source in London.

"As a large hedge fund, GLG is bombarded with brokers making

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