Fund action - Monday, July 28, 2008
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RevenueShares Eyes Sectors
RevenueShares will pitch the funds as satellite offerings to the firm’s three core ETFs—Small Cap, Mid Cap and Large Cap, said Sean O’Hara, president. The ETFs will focus on sectors including energy, consumer discretionary and technology.
O’Hara said that by weighting the ETFs based on revenue rather than market capitalization will produce higher returns in a turbulent market. “It forces a discipline on the portfolio whereby you overweight the most underpriced stocks in the index and underweight the most overpriced stocks,” he said.
O’Hara said RevenueShares will hire four to six wholesalers by year’s end to help with expansion of the ETF lineup. The firm now has 18 wholesalers—10 external and eight internal.
Revenue Shares has $60 million in ETF assets and manages $1 billion in assets in separately managed accounts.
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