The Age of ETFs
ETFs have become an integral part of modern asset allocation. In the NZZ special feature “Investment Funds,” however, Tareno CIO Simon Lutz highlights where passive investing can reach its limits and explains why hidden costs—in addition to visible fees—should also be taken into account.
Broad diversification, low costs, and high liquidity make ETFs popular investment instruments. However, as inflows increase, concentration and cluster risks can arise. Simon Lutz also explains why it is not just the TER but the total investment costs that are crucial for investors.
Neue Zürcher Zeitung (NZZ), NZZ Special Report on Investment Funds, “The Age of ETFs,” featuring insights from Simon Lutz, Chief Investment Officer of Tareno AG, April 17, 2026.
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