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Monday, October 07, 2019|
Barse Teams Up With an Expanding ETF Startup
David Barse has returned to the mutual fund business, though this time he's teaming up with a growing ETF shop.
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.
Printed from: MFWire.com/story.asp?s=60337
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