Alternative ETF provider ProShares is enhancing its distribution capabilities by significantly increasing its focus on financial professionals in the broker/dealer and registered investment advisor (RIA) channels.
ProShares is also enhancing regional financial coverage in the United States by expanding from nine to 15 sales regions.
The company also has hired a team to support ETF strategists who package portfolios of ETFs into investment strategies that are generally distributed through third parties. Industry-wide, the ETF strategist channel has grown to more than $96 billion as of 30 September, 2014.
In addition, to support its growing international footprint, ProShares has added a resource exclusively covering international distribution. In the past year, ProShares has experienced significant growth internationally, with non-US assets in ProShares ETFs increasing by approximately 17% as of 30 November, 2014.
“These strategic investments in our distribution capabilities will allow us to further support the growing demand for our lineup of alternative ETFs,” says Michael L Sapir, co-founder and CEO of ProShare Advisors LLC. “They will enhance our ability to educate the marketplace about the benefit of alternative investments and help investors build better portfolios.”
As part of its investment in distribution capabilities, ProShares has made four new senior appointments: Mark Ouimet as director in charge of financial professionals, Jay Bendesky as senior sales manager and regional desk head, Drew Corbett as head of international sales, and Ed Kushma as director of managed portfolios. All four roles are based in ProShares’ Bethesda, Md office and report to Donald Roberson, managing director of distribution.
“We now provide extensive coverage across the United States and have begun to capture opportunities abroad,” says Roberson. “We look forward to leveraging the experience of the new team as we work to deepen relationships across the industry.”