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

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

Rating:This ETF Crossed $100MM ... In Six Weeks Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 15, 2015

This ETF Crossed $100MM ... In Six Weeks

Reported by Neil Anderson, Managing Editor

In just six weeks, an ETF startup's latest fund crossed $100,000,000 in assets under management.

On November 12, 2014, New York City-based PureFunds debuted its PureFunds ISE Cyber Security ETF (ticker: HACK). Last week PureFunds CEO Andrew Chanin confirmed that the new ETF reached nine digits of AUM in its first six weeks on the market.

Chanin started his career on the floor of the now-gone American Stock Exchange as a clerk for a large ETF specialist group before working as a market maker in the international equity ETF space for NYSE's electronic Arca platform. Later he worked on an ETF market-making desk at a proprietary trading shop.

In 2010 he and a partner (since departed from PureFunds) went out on their own to launch PureFunds. By November 2012, they were ready to debut their first three ETFs, all global equity in the natural resource space. One of those ETFs, the PureFunds ISE Junior Silver ETF, remains today.

The PureFunds strategy, Chanin explains, is to come up with first-to-market ETF products. He compares his approach to that of Will Ferrell's character in the NASCAR movie Talladega Nights: "If you're not first, you're last."

"We keep looking for areas where we can be first-to-market," Chanin tells MFWire. "We are small and agile and creative and willing to try things."

PureFunds sponsors the ETFs, Factor Advisors is the advisor to the ETFs, and International Securities Exchange (ISE) licenses its indexes to PureFunds. Quasar Distributors handles distribution. Penserra Capital Management subadvises the new ETF. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
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:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use