The problem for the managed funds is that the stocks that show the biggest gains are small cap. There simply isn't room for the Fund. Not enough liquidity for buying or selling. That's a practical, trading issue.
Then there is a credibility thing. Even if a big fund could invest $50bn in speccies who would take them seriously? The AMP "Heart Attack" Fund? Colonial "For God's Sake Don't Tell Your Spouse You've Bought This" Fund?
