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US fund veteran makes selling point of ETFs' dirty little secret

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BlackRock gives between 71.5 and 80 per cent of lending income to its ETFs, depending on the underlying asset class.

New York

BRAD Lamensdorf is an unlikely whistle-blower on the inner workings of exchange-traded funds.

A hedge fund alumnus and now chief executive of a tiny ETF startup, Mr Lamensdorf has long been aware of the sometimes embarrassing secret at the heart of these funds: securities

sentifi.com

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