pooled accounts

Why does the pooled account have lower fees than ETF and index fund? I can’t find it in the book. Thanks.

Who said that? I think ETF has the lowest fees out of any of the above, and are tax efficient.

no he is right private pooled account has the lowest, second lowest is etf, why i do no know…all i know is i saw it in the cfai readings

Pimp rocks…I found it on P215. It mentions about the securities lending from a indexed institutional portfolios.