Nomad’s Nick Sleep: The best investors stay focused on the destination

ETFs and other passive instruments have attracted record amounts of investor cash this year. In November, investors plowed $112 billion into long-term mutual funds and exchange-traded funds, a record not seen since January 2013 when $117 billion of investors’ cash found its way into funds. ETFs were the most popular choice by far. ETFs attracted a record $97 billion in November. Q3 2020 hedge fund letters, conferences and more Over the year to the end of November, domestic-equity ETFs attracted $118 billion. In contrast, open-end funds suffered a whopping $345 billion of outflows. That puts open-end U.S. equity funds on…