VTL Associates, a Philadelphia registered investment advisor company which owns $9 billion in non-discretionary assets, is planning to launch an ETF company that will focus on the Chinese market, reported RIABiz
The RIA received $7 million from Suzhou Industrial Park Kaida Venture Capital in exchange for 22 percent of the RIA, MFWire reported
in May.. Most of that money will be spent on the ETF arm of the company.
CEO Vince Lowry is pretty confident the plan will be a success:
The ETF trend is for real, so we made a pretty big bet on it,” said Lowry. His wager is that with new capital and a new marketing plan, the firm will be able to capture 10% to 20% of the $400 billion ETF market and become a global product — while still operating as an RIA.
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