Broadridge Financial Solutions unveiled a new tool that finally gives exchange traded fund (ETF) providers the kind of information they have long been seeking: who’s buying their funds?
Frank Polefrone, senior vice president at Access Data, told us that last year, Broadridge bought Access Data. The company had a tool that enabled mutual fund companies to see how their portfolios are being used. This new ETF tool is an extension of that. Polefrone says the data is gathered through connections and various other sources and distributed monthly.
The information allows ETF providers to see what kinds of advisors are selling their ETFs but will also break down sales by geographic region.
It’s always been a challenge to get providers this type of information, because ETFs are sold on the secondary market rather than through a provider. Prior to Broadridge’s offering, much of the information came by way of quarterly 13F reports.
Polefrone says that so far the tools have been enthusiastically received.
For more stories and stats about the ETF industry, visit our category.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.