MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, February 19, 2013 Bloomberg Compares Divergent Paths of Artio and Virtus Both firms started on their own in 2009, but they ended up in completely different places. That's the premise Bloomberg explores in an article comparing the different fates of Virtus and Artio. The newswire notes that Virtus, which started as a virtually unknown money manager, has surged 19-fold since its public debut as assets have soared. Meanwhile, Artio, which listed in September 2009 after spinning out from Switzerland’s 122-year-old wealth manager Julius Baer Group Ltd., saw its life as an independent firm come to an abrupt end with its Feb. 14 acquisition by Aberdeen Asset Management Plc after assets slumped and shares plunged about 90 percent. MFWire's coverage of the purchase can be found here, including insights from Aberdeen's Americas chief executive Gary Marshall here. One of the points made in the Bloomberg article is that Virtus, spun off four years ago from a small Connecticut- based insurer under pressure to boost its share price, advanced the most of any U.S. money manager after a diverse fund lineup and top managers attracted investors. At Artio, returns at its mainstay international stock funds slumped, prompting redemptions and a 75 percent decline in assets. The diverging journeys underscore the importance of diversification and, more so, performance, said Steven Schwartz, an analyst at Raymond James & Associates in Chicago, according to the newswire. To read the full analysis of the two firms, go to the Bloomberg article. Printed from: MFWire.com/story.asp?s=43026 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |