Acadian has historically been very high turnover... the recent reduction in the turnover is a surprise to me as a long time holder of VHGEX, which has been primarily managed by Acadian over the past few years... and Vanguard has continued to add managers due to the high turnover quant style of Acadian...

Anyway thats neither here nor there in relation to the main point of this thread... which is; Acadian has not shown any significant edge over the unmanaged benchmark of their market segment... and after expenses and taxes they are well behind EEM...

Please, Jagor (and those who agree with his "reasoning")... do yourself a favor and go to a local fee-only financial planner and pay him 500.00 to educate you on your portfolio... if you are really buying high distributing mutual funds to capture the "free money" then you really owe it to yourself and your loved ones to get a crash course in mutual fund structures... when you buy a fund and get a huge distrubution, you are paying taxes on the investment returns that others have made... you only get those returns if you had been in the fund for years... and if you had been in the fund long enough to enjoy all of those investment returns (3-5 years) then you would have still been ahead in a taxable account if you owned the ETF on which you would have paid little or no taxes... and in a tax-deferred account you would own exactly the same amount of underlying stock before and after the distrubution... no massive penalty there, but at best its a zero sum game...

Nothing wrong with being uninformed as long as you take advantage of the chance to learn!  And around here, the lessons are free

 Ajw