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Friday, June 24, 2005

Hitting the Billion Mark

by: Theresa Sim

Boutique ETF firm Powershares announced that it has hit the $1 billion in assets mark. The firm said that it reached its first $500 million in assets in 17 months and the next $500 million in the following five months.

OppenheimerFunds, which has well over $1 billion in assets, said its 529 business reached the $1 billion mark. OppenheimerFunds is the manager of New Mexico's direct-sold and advisor-sold college plans, as well as the advisor-sold plan in Oregon.  

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