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

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

Rating:Two Fund Firms Invest In a PowerShares Vet's Direct Indexer Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 12, 2022

Two Fund Firms Invest In a PowerShares Vet's Direct Indexer

Reported by Neil Anderson, Managing Editor

A Midwestern fund firm's parent and an East Coast fund firm and ETF strategist are betting on a PowerShares' veteran's independent, woman-owned, direct indexing startup near San Francisco.

Lorraine Wang
GAMMA Investing, LLC
CEO, Founder
Yesterday, Steve Booth (chairman, president, and CEO of Baird) and Pete Quinn (CEO of RiverFront Investment Holdings Group, LLC, in which Baird holds a minority stake), confirmed that the two firms are buying a minority stake in Foster City, California-based GAMMA Investing, LLC. And Baird (based in Milwaukee) and RiverFront (based in Richmond, Virginia) gained GAMMA board seats, too; on January 3, Karrie Southall (RiverFront's chief operating officer), Laura Thurow (executive director of wealth solutions and operations at Baird), and Yu-Ming Wang (a senior advisor to GAMMA and former president of Matthews Asia) all joined GAMMA's new board of directors.

GAMMA CEO Lorraine Wang founded the custom index SMA shop in 2020 after 14 years with PowerShares and Invesco (which bought PowerShares), where she served as global head of ETF products and research. She describes GAMMA's mission as empowering financial advisors (FAs) "to provide their clients with highly personalized index solutions en masse and an opportunity to potentially increase their after-tax wealth."

"We are proud to have RiverFront Holdings and Baird as our strategic partners who can help us accelerate growth while staying independent, enabling us to bring innovation that focuses on clients' differentiated portfolio needs while keeping the costs of implementation low," Wang states.

"Direct indexing is an important piece of the investment management ecosystem for the long-term," Quinn states. "Partnering with an industry veteran like Lorraine allows us to participate in the projected growth of direct indexing while allowing our investment team to stay focused on managing our existing solutions."

Booth lauds Wang's "well-established reputation."

"Her team's client-focused approach is aligned with ours, and this investment enables us to further expand the high-quality solutions we make available to our financial advisors and their clients."

Baird and RiverFront's investment in GAMMA comes to light as an RIA custodian and B-D ally, an index fund titan, and an active fund giant are all buying direct or custom indexing specialists. 

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
2022: Q1
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




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use