Virtus Investment Partners, a multi-manager asset management business, has agreed to acquire a majority interest in ETF Issuer Solutions (ETFis), a New York-based exchange-traded funds services platform operator.
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The transaction will add to Virtus’ product line-up providing it with manufacturing capabilities for both active and passive ETFs.
ETFis will become an affiliate of Virtus and will provide investors access to differentiated investment capabilities from select sub-advisers.
The transaction, which is expected to close in March 2015, will offer the Newfleet Multi-Sector Unconstrained Bond ETF, the first product managed by an ETFis integrated Virtus affiliate, leveraging Newfleet Asset Management team’s expertise in multi-sector fixed-income investing strategy.
Virtus president and CEO George Aylward said: There is growing interest among financial advisors and investors to use exchange-traded funds in their retail and institutional portfolios because of the tax efficiency and liquidity benefits that ETFs offer.
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By GlobalData"The ETFis business model is similar to the Virtus approach of offering investors access to strategies of boutique managers. This partnership with ETFis will expand our product capabilities and allow us to offer compelling investment strategies in an actively managed ETF format."
