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

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

Rating:Eyeing Two Channels, This Gotham Fundster Chief Is Hiring Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, March 07, 2019

Eyeing Two Channels, This Gotham Fundster Chief Is Hiring

Reported by Neil Anderson, Managing Editor

While focusing on a pair of key new distribution channels, this fundster chief is also expanding his team.

"We're going to continue to expand the sales team as we get approvals from the home office so we can cover the field," Rob Nestor, president and head of Rafferty Asset Management's Direxion [profile], tells MFWire. Direxion currently has 41 people and more than $14.5 billion in AUM, Nestor adds.

The sales expansion, along with some new product launches (and more coming down the line), is part of Nestor's strategy to broaden Direxion's distribution reach beyond its traditional core market: tactical traders. Direxion has historically been known for leveraged index and inverse index mutual funds and ETFs.

Nestor sees both strategic asset allocators (who have a multi-year time horizon for investing) and "top-down, macro and thematic investors" (who invest over six- to eighteen-month time horizons) as key distribution areas for Direxion moving forward, and his team is building new products to better serve those channels. M&A is a possibility, too.

"We'll now be relevant in retail wealth advisory," Nestor tells MFWire, adding that, now more than ever before, it's "important that distribution be scaled." The "if you build it they will come" ETF distribution days are long over, he says.

"Products increasingly need to be sold," Nestor says. "They will not just be found in a world where we now have over 2,000 ETFs." Nestor also stresses that Direxion's core channel, tactical traders, "remains and will remain a core business." 

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
2019: Q3Q2Q1
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




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use