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Monday, October 07, 2019

Barse Teams Up With an Expanding ETF Startup

Reported by Neil Anderson, Managing Editor

David Barse has returned to the mutual fund business, though this time he's teaming up with a growing ETF shop.

William Rhind
Founder, CEO
Today Will Rhind, founder and CEO of New York City-based GraniteShares [profile], confirmed the launch of the GraniteShares XOUT U.S. Large Cap ETF (XOUT on the NYSE Arca). The new ETF is powered by the XOUT U.S. Large Cap Index from XOUT Capital, which is led by Barse. Meanwhile, Rhind continues to expand his team.

David Michael Barse
XOUT Capital LLC
Founder, CEO
"We hired a couple more folks on the sales side ... and we're currently looking for West Coast and Central wholesaler positions," Rhind tells MFWire. "We're building out nicely."

Rhind's newest additions include Lili Jiang and Dwayne Javier, he confirms. The GraniteShares team now includes 14 people and has more than $700 million in AUM. He's looking to hire on the marketing side, too, in addition to further expanding the sales team.

As for the GraniteShares XOUT ETF, the idea behind the index and the ETF is to avoid losers, rather than picking winners.

"To us, it's much more than a fund," Rhind says. "It's a completely new investment paradigm and a completely new way of looking at investing," Rhind says. "It's much easier to identify a company in secular decline than it is to identify the next Google."

"Having spent most of my career in the asset management industry trying to build portfolios of winners, I now know it may be much easier to simply exclude losers," states Barse, founder and CEO of XOUT Capital and former CEO of Third Avenue.

Looking ahead, if the new ETF catches on, watch for Rhind and Barse to team up on other ETFs using a similar perspective.

"This is obviously something that can be adapted to all sorts of other areas and sectors of the market," Rhind says.

Javier, an alumnus of Ursinus College, most recently spent three years at Invesco before departing earlier this year. Prior to that he worked with Pioneer, Nationwide, Northwestern Mutual, Prudential, and AllianceBernstein.

Jiang, an alumna of Pace University, most recently spent six years with BlackRock before moving on last year. Before that she worked at Lord Abbett. 

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