A Chicago-based startup will enter the mutual fund business this summer. They're also prepping closed-end funds, ETFs, and UITs. And a top executive expects to be expanding the team.
| Steven Neamtz|
Senior Managing Director
, who just joined Vest
full-time as a senior managing director, confirms that the Chicago Board of Exchange (CBOE
) subsidiary has a host of new products planned. Watch for Neamtz to add more people to the team.
"We're in the throes of developing a line of mutual fund products. The various wrappers that our methodologies can be utilized sort of span the gamut," Neamtz tells MFWire
. "We'd like to launch by early summer in the UIT space and the mutual fund space."
As for exchange-traded products, including ETFs, Neamtz says the team will "start to formulate ... findings in that arena in the second half of 2016."
"We need to be a bit more opportunistic on the closed-end side," Neamtz adds.
In terms of hiring, Neamtz says his is "absolutely" bringing new folks on board.
"We'll both have internal resources to support the PMs and the communications of these strategies," Neamtz says, adding that their distribution model will include will also include working "strategically with some third-party distribution."
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