ETFs aren't just for tracking run of the mill indexes anymore. And big mutual fund firms are paying attention.
On Monday Janus unveiled
a deal, including $30 million in cash, to buy ETF shop VelocityShares
. And now Reuters'
Jessica Toonkel, who writes lots on M&A in the mutual fund industry, reports
that unnamed sources say alternative asset management giant Goldman Sachs
] is in talks to buy Rye Brook, New York-based ETF shop IndexIQ
]. Both deals could accelerate the larger shops' ETF entry, in that the firms they're acquiring already have regulatory approval for their ETF businesses.
piece does not reveal a pricetag for IndexIQ, which has $1.2 billion in ETF assets under management.
, chief investment officer of ETF.com
, tells the wire service that IndexIQ's alternative ETF suite could fit well with Goldman's approach. And Reuters
notes that last month Goldman asked the SEC for approval to launch an active ETF series. Goldman's Michael Crineri
moved to the investment division, from the trading division, this summer to launch an ETF business.
Neil Anderson, Managing Editor
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