US Bancorp Fund Services (USBFS) has added an exchange-traded fund from Vident Financial to its Exchange Traded Fund Series Solution (ESS) multiple series trust (MST).
The Vident International Equity Fund (VIDI) launched on 30 October 2013. The ETF MST enables investment advisers to build awareness and recognition for their brand as a private-label ETF, and launch an ETF in approximately 75 days for a minimal initial investment.
“We are excited to have Vident Financial join our growing MST and allow shareholders the opportunity to invest in their product. We believe our MST model provides managers with the opportunity to leverage our administration services so they can focus on investing, while capitalising on developments in the market,” says Joe Redwine (pictured), president of USBFS.
VIDI combines principle-based country and securities selection with risk management to balance risk across developed and emerging economies. The index, Vident International Equity Index, allocates across 35 developing economies through 500 to 700 international equity positions.
“Because of their industry experience and continued financial strength, we believe this partnership with US Bancorp Fund Services and ETC allows us the best opportunity to grow our funds,” says Nick Stonestreet, chief executive officer for Vident Financial, headquartered in Atlanta.