Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Clarke Lands a Key NextShares Distro Alliance Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 19, 2015

Clarke Lands a Key NextShares Distro Alliance

Reported by Neil Anderson, Managing Editor

The Eaton Vance [profile] folks just landed a key distribution partnership for their next-generation, ETF-like product structure.

Jim Patrick, executive vice president of Envestnet | PMC, confirms that Envestnet will be making the NextShares exchange-traded managed funds (ETMFs) available through both Envestnet's rep-as-PM platform and its Fund Strategist Portfolios for outside strategists. Stephen Clarke, president of Eaton Vance subsidiary Navigate (the power behind NextShares), praised Envestnet's move as demonstrating the Chicago-based, publicly-traded TAMP's "commitment to innovation."

More than half a dozen mutual fund shops have already signed on to the ETMF idea. The big NextShares question on most fundsters' minds is whether or not the B-Ds will embrace the new product structure or not. Envestnet works with a host of broker-dealers and RIAs. Patrick notes that, as of June 30, Envestnet works with more than 41,000 advisors, almost 3 million accounts, and more than $700 billion in client assets.

News of the alliance broke last night, in advance of Eaton Vance reporting its fiscal Q3 2015 earnings this morning. Eaton Vance's $0.57 of adjusted earnings per diluted share missed expectations by $0.05 and dropped 10 percent year-over-year, while its revenue of $355.5 million fell short of expectations by $9.92 million. Yet it had quarterly net inflows of $3.9 billion, a $6-billion swing from the $2.0 billion in net outflows it suffered in fiscal Q3 2014. Its AUM was up eight percent year-over-year to $312.6 billion on July 31, 2015.

Tom Faust, chairman and CEO of Eaton Vance, even cited "continued progress advancing our NextShares actively managed exchange-traded product initiative" as one of three things positioning the Boston-based mutual fund company for "increased revenues" leading to "resumed earnings growth." 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF webinar - Lessons Learned from the Regional Bank Volatility and the Impact on Registered Funds, June 18
  2. IMEA webinar - Snapshot on the Talent Landscape, June 18
  3. 2024 MMI National Accounts Roundable, June 18
  4. MMI webinar - RIA Consolidators: The New Key Accounts?, June 20
  5. MFDF Director Discussion Series - Open Forum (Philadelphia), June 20
  6. MMI webinar - DoL Fiduciary Rule Update: What Are the Implications?, June 21
  7. WE Chicago - Pre-Morningstar Conference reception, June 25
  8. Celebrating 100 Years of the Mutual Fund, June 25
  9. New York YPEM Cornhole Classic, June 25
  10. Morningstar Investment Conference Conference 2024, Jun 26-27
  11. 2024 MMI Institutional Roundtable, June 26
  12. WE PNW Seattle - Pickleball and Networking, June 27
  13. Celebrating 100 Years of the Mutual Fund, July 11
  14. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 16
  15. MFDF Director Discussion Series - Open Forum via Zoom, July 17
  16. MFDF Director Discussion Series - Open Forum (New York), July 23
  17. IMEA Portfolio Construction Roundtable, September 19
  18. MFDF Continuing Regulatory Impacts on Fund Boards program, October 15
  19. 2024 MMI Annual Conference, Oct 15-17
  20. IMEA Philanthropic Day, October 22
  21. IMEA Leadership Summit, October 23
  22. IMEA Star Awards Celebration, October 23
  23. IMEA Marketing Summit, October 24
  24. 5th Annual ETFGI Global ETFs Insight Summit, October 29
  25. MFDF Director Discussion Series - Open Forum (Denver), November 6
  26. MFDF webinar - Digital Assets in the Fund Space (part 2 of 2), November 7




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use