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Rating:A Pure ETF Startup Is Building a Sales Force Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 21, 2016

A Pure ETF Startup Is Building a Sales Force

Reported by Neil Anderson, Managing Editor

A six-year-old ETF shop's chief is preparing to build his own sales force.

Andrew Chanin
Chief Executive Officer
"We're hoping to make a big push into sales in the next months," Andrew Chanin, CEO of New York City-based PureFunds, tells MFWire.

Chanin adds that he does not plan to focus his sales force on a single channel.

"I wouldn't want to leave any stone unturned," Chanin says.

The move comes shortly after PureFunds, famous for its recordbreaking PureFunds ISE Cyber Security ETF (HACK), pushed its ETF count up to six with two more launches: the PureFunds Video Game Tech ETF (GAMR) and the the PureFunds Drone Economy Strategy ETF (IFLY). PureFunds' mission, Chanin says, is "to look for exciting industries that are in-demand that investors have difficulty getting exposure to" without buying individual stocks.

And Chanin has other expansion plans, too.

"We've started building our research department at PureFunds," Chanin says. "We're trying to grow on many different fronts."

On another front, Chanin has online upgrade plans.

"We're working on rebuilding our website and doing a full new relaunch of that," Chanin says. "The goal is to make it make more user-friendly and provide more timely, relevant information" and education about ETFs in general.

PureFunds now has about $750 million in AUM. Its allies include: the ISE, which provides the indexes the ETFs track; the NYSE Arca, where the ETFs list; Penserra Capital Management, which subadvises most of the ETFs; and ETF Managers Group subsidiary Factor Advisors, which advises the ETFs. 

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