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These ETFs track hedge funds’ hottest holdings

Scoff if you want at those who copy professional investors such as Warren Buffett and David Einhorn – but funds modelled on copycat investing have been doing remarkably well.

The AlphaClone Alternative Alpha exchange-traded fund launched at the end of May 2012 and has since delivered a total return of 46.5 per cent, after factoring in dividends. That is nearly 5 percentage points better than the S&P 500.