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

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

Rating:Clarke Lands a Key NextShares Distro Alliance Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 19, 2015

Clarke Lands a Key NextShares Distro Alliance

Reported by Neil Anderson, Managing Editor

The Eaton Vance [profile] folks just landed a key distribution partnership for their next-generation, ETF-like product structure.

Jim Patrick, executive vice president of Envestnet | PMC, confirms that Envestnet will be making the NextShares exchange-traded managed funds (ETMFs) available through both Envestnet's rep-as-PM platform and its Fund Strategist Portfolios for outside strategists. Stephen Clarke, president of Eaton Vance subsidiary Navigate (the power behind NextShares), praised Envestnet's move as demonstrating the Chicago-based, publicly-traded TAMP's "commitment to innovation."

More than half a dozen mutual fund shops have already signed on to the ETMF idea. The big NextShares question on most fundsters' minds is whether or not the B-Ds will embrace the new product structure or not. Envestnet works with a host of broker-dealers and RIAs. Patrick notes that, as of June 30, Envestnet works with more than 41,000 advisors, almost 3 million accounts, and more than $700 billion in client assets.

News of the alliance broke last night, in advance of Eaton Vance reporting its fiscal Q3 2015 earnings this morning. Eaton Vance's $0.57 of adjusted earnings per diluted share missed expectations by $0.05 and dropped 10 percent year-over-year, while its revenue of $355.5 million fell short of expectations by $9.92 million. Yet it had quarterly net inflows of $3.9 billion, a $6-billion swing from the $2.0 billion in net outflows it suffered in fiscal Q3 2014. Its AUM was up eight percent year-over-year to $312.6 billion on July 31, 2015.

Tom Faust, chairman and CEO of Eaton Vance, even cited "continued progress advancing our NextShares actively managed exchange-traded product initiative" as one of three things positioning the Boston-based mutual fund company for "increased revenues" leading to "resumed earnings growth." 

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
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


  1. The 32nd Sub-Advised Funds Forum, Sep 20-21
  2. Crane's Money Fund Symposium, Sep 21-23
  3. Expect Miracles Foundation's 4th Annual Atlantic Coast Classic, September 21
  4. ICI 2021 Virtual Tax and Accounting Conference - Day 1, September 21
  5. MFDF webinar - the Nuts and Bolts of SPACs, September 22
  6. Morningstar Investment Conference, Sep 22-24
  7. Nicsa webinar - Listen, Learn & Lead | Utilizing Beneficial Partnerships, September 22
  8. MFDF Director Discussion Series - Open Forum via Zoom, September 23
  9. MMI Distribution Leadership Forum - Day 2, September 24
  10. Citywire Greenwich Harbor Retreat 2021, Sep 27-28
  11. Inside ETFs, Sep 27-29
  12. MFDF webinar - MPI's 2021 Mid-Year Survey of Investment Firm Profitability, September 28
  13. ICI 2021 Virtual Tax and Accounting Conference - Day 2, September 28
  14. IMEA In-Person Leadership Summit, September 29
  15. ALFI Digi Pulse USA, September 30
  16. ICI 2021 Virtual Tax and Accounting Conference - Day 3, October 5
  17. Nicsa 2021 General Membership Meeting, Oct 6-8
  18. MFDF webinar - BDCs 101: The Board Perspective, October 13
  19. MFDF Director Discussion Series - Open Forum (New York), October 14
  20. Fund Intelligence Mutual Fund Industry and ETF Awards, October 14
  21. 2021 Nicsa GMM - Digital Innovation Summit, October 19
  22. 2021 MMI Annual Conference, Oct 20-28
  23. Tiburon CEO Summit XLI, Nov 1-3
  24. MFDF webinar - ISO Crypto Exposure: What Boards Need to Know, November 9
  25. MFDF Director Discussion Series - Open Forum via Zoom, November 18
  26. MFDF webinar - Fund Industry Claims Trends: An Insurer's Perspective, December 2




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use