Feasible advice

  What portion of your fund comprises ETFs? When ETF-Dachfonds launched in April 2007, the decision was made to just invest in ETFs. This retail fund was the first fund of funds launched in Germany that solely uses ETFs, and it has just passed its three year anniversary. The ETF-only strategy decision was made because exchange-traded commodities (ETCs) involve a large an element of counterparty risk and the ETC structure does not allow you to invest as much as you want with a single issuer. With only three or four ETC suppliers when the fund launched it would also have been almost impo...