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'Better Finance' identifies potential closet indexers
Better Finance, the European umbrella body of which UKSA is a member, commissioned a major study to identify potential falsely active funds (“closet indexers”) and is calling on regulators to investigate.
The move came after ESMA, the European Securities and Markets Authority, conducted a study on closet indexing but refused to disclose the names of the funds. Better Finance therefore replicated the study and identified up to 165 equity funds that could potentially be closet indexers. Full details here