iBillionaire Index To Track Big Buck Bets; ETF in the Works

indexuniverseCourtesy of Hung Tran/IndexUniverse

MarketsMuse editor: In the category of “what will they think of next?”

A new index tracking the success of billionaire investors went live today, and a related “Billionaire ETF”—perhaps a bit like the Global X Guru ETF (GURU | C-48)—appears to be in the works as well.

iBillionaire Inc. today launched a new index designed for investors to track the investment portfolios of luminaries such as Warren Buffett, Carl Icahn and George Soros. The New York-based firm said in a press release it’s also designing an iBillionaire ETF to boost investors’ portfolios “like a billionaire,” according to the firm.

The iBillionaire Index, like Global X’s $251 million ETF ‘GURU,’  is devised from 13F filings and is composed of the top 30 large-cap equities listed on the S&P 500 in which the billionaire investors have made the most bets. The index will be calculated and distributed by the New York Stock Exchange.

For the full article, please visit IndexUniverse.com

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