Early investors in the Guru ETF were primarily retail investors, but del Ama said he expected more institutional clients to take an interest as the ETFs gain more assets.

The London Pensions Fund Authority may invest in the Guru fund, Chief Investment Officer Alex Gracian said.

"It gives you more diversification in terms of strategy type at a lower cost," said Gracian, who oversees nearly 5 billion British pounds (about US$8.3 billion) of pension funds. He said he might use the ETF to replace another long-only investment.

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