ETF Provider Flush With Cash
October 28th at 1:15am by Tom Lydon
Amvescap,the exchange traded fund (ETF) parent company, has recovered from it’s financial scandal two years ago. Amvescap acquired PowerShares Capital Management last month to enter the ETF industry. Now, PowerShares’ parent is flush with cash as profits surge. Although PowerShares has less than 5% of the ETF market, they’re invested heavily in product creation. They own 22 of the 303 ETFs. Amvescap president said in Guardian Unlimited, "…we are in a good position to continue building business momentum."
