With the Securities and Exchange Commission (SEC) finally picking up the pace of its approvals for exchange-traded funds (ETFs), ETF backs are facing another bottleneck: finding specialists to seed their newly approved mutual funds. Indeed, ETF specialists may be looking at putting up much more than $1 billion in seed capital for as many as 300 new ETFs this year. This morning's Wall Street Journal's Fund Track
column delves into the "withering" away of specialists, unfortunately, it provides few details of who those specialists are. Bear Stearn's Bear Hunter Structured Products LLC
unit is one the primary focus of the column. Dan McCabe
, former CEO of Bear Hunter and head of ETF startup M7 Ventures is one of those interviewed.
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