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Investing Legend Burton Malkiel Joins the Toroso ETF Industry Index Committee

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07/12/2017 | 11:41am EST

Author of “A Random Walk Down Wall Street” brings wealth of experience to the team overseeing the only benchmark for the fast-growing ETF industry

Burton Malkiel, the legendary Princeton professor and author of the seminal best-selling book “A Random Walk Down Street,” has joined the Index Committee for the Toroso ETF Industry Index (“TETF.Index”), it was announced today.

“In the years since I first wrote ‘Random Walk’ the asset management industry has undergone nothing short of a sea change, marked by the emergence and increasing dominance of index-based investment approaches,” said Dr. Malkiel. “As the indexing and ETF universe has grown and matured, capturing its growth in an index of its own is the next logical step and is a very exciting proposition. It is one which I am very much looking forward to focusing on with my fellow Index Committee members.”

TETF.Index is designed to provide exposure to the publicly traded companies that derive revenue from the ETF industry. This includes ETF sponsors, index and data companies, trading and custody providers, liquidity providers, and exchanges.

The index also underlies the ETF Industry Exposure & Financial Services ETF (NYSE Arca: TETF), the first and only Exchange-Traded Fund providing investors with a single point of access to the companies driving and participating in the growth of the ETF industry.

Professor Malkiel joins an Index Committee whose members collectively have several decades of experience in the ETF industry, including Mike Venuto, CIO of Toroso Investments; Guillermo Trias, CEO of Toroso Investments; Linda Zhang, Founder of Purview Investments; Kris Monaco, Founder of Level ETF Ventures; and Kevin Carter, Founder of Big Tree Capital.

“Professor Malkiel is undoubtedly one of the preeminent experts on the ETF industry, having made a compelling case for the rise of index investing years before there was such a thing as an ETF,” said Mike Venuto. “We are thrilled to welcome him to our Index Committee and to put all of his valuable insights to work.”

The Index, maintained by Solactive AG, is designed with four tiers of constituents:

  • Tier 1, 50% of the Index’s exposure, is made up of companies with substantial participation in the ETF industry, providing direct financial impact to shareholders, including BlackRock, Charles Schwab, Invesco, State Street, WisdomTree, and more.
  • Tier 2, 25% of the index’s exposure, is made up of companies with substantial participation in the ETF industry, providing indirect financial impact to shareholders, including KCG Holdings, NASDAQ, Intercontinental Exchange, Inc., and more.
  • Tier 3, 15% of the Index’s exposure, is made up of those companies with moderate levels of participation in industry, including Bank of New York Mellon, US Bancorp, FactSet, Ameriprise Financial, and more.
  • Tier 4, approximately 10% of the Index’s exposure, includes companies that are new or participating in a smaller way in the ETF industry relative to their overall focus, and includes such names as Morningstar, Eaton Vance, Goldman Sachs, Legg Mason, Citigroup, and more.

More information on the Index, including its construction methodology, cap weightings, holdings and more, can be found here: http://www.torosoam.com/torosos-etf-industry-index/

About Toroso Investments®

Founded in 2012, Toroso Investments, LLC is an asset management and research firm doing business as Toroso Asset Management, dedicated to researching, managing and launching strategies within the expanding ETF universe; and a consulting platform doing business as Tidal Growth Consultants, dedicated to unlocking the growth potential of other RIAs and ETF issuers.

Launched by a group of finance thought leaders who have been designing, marketing, distributing, and utilizing ETFs for years, Toroso is now leading the sector with unparalleled ETF expertise and an analytical platform that is leveraged for servicing investors, Financial Advisors and ETF issuers around the world.

About Exchange Traded Concepts

Exchange Traded Concepts is the leading turnkey ETP platform that provides time- sensitive and cost-effective methods to bring an exchange-traded fund to market. Seasoned ETF professionals have the operational and regulatory experience plus the industry expertise required to navigate the complexities of launching and managing an ETF. ETC has developed strategic relationships with other ETF service providers to assist ETC’s sub-advisors in navigating the exchange-traded fund launch process with the guidance necessary to maintain regulatory compliance. With more than 30 fund launches and more than $2.6 billion in AUM, ETC continues to innovate and expand the ETF universe.

DISCLOSURES

There are risks involved with investing, including loss of principal. The Fund’s assets will be concentrated in the financial services sector, which means the Fund will be more affected by the performance of the financial services sector than a fund that is more diversified. Companies engaged in ETF Activities could be adversely affected if the current growth of the ETF market is not sustained. The Fund’s return may not match or achieve a high degree of correlation with the return of the Index. The Fund is non-diversified.

There is no guarantee the fund will achieve its stated objective.

To determine if the fund is an appropriate investment for you, carefully consider the fund’s investment objectives, risk, and charges and expenses. This and other information can be found in the fund’s prospectus, which can be obtained by calling 844-380-TETF (8383) or by visiting (www.tetfetf.com). Please read the prospectus carefully before investing.

Exchange Traded Concepts, LLC serves as the investment advisor, and Penserra Capital Management LLC serves as a sub advisor to the fund. The Funds are distributed by SEI Investments Distribution Co. (1 Freedom Valley Drive, Oaks, PA, 19456), which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.


© Business Wire 2017
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