Not sure why they would do this as an ETN (well, I understand their arguments but they don’t hold water to me) but interesting to see the continued progress of alternative beta funds launching: RBS US Large Cap Trendpilot Exchange Traded Note
In realated news it looks like Greenblatt has been busy launching his magic formula as mutual funds, FNSAX and FVVAX etc (though the only difference I see is the number of holdings?). They have filings for international and global funds as well…bummer to me to see that they have done it the conventional mutual fund route with all the associated fees and share classes but congrats to them on the continued strong AUM raise.
