Nevertheless, LocalShares remains undaunted, planning as many as 25 city-specific funds in the future.
“We have done a lot of research on what cities have the most dynamic ecosystems,” Chief Executive Officer Beth Courtney of LocalShares said in the article.
For people who have money in the area, who know the local economy and like the local companies and know them better than they know other publicly-traded companies, it might make sense.
“People like to know what they own,” says Nashville-based financial adviser Lee Vaughan of COVA Wealth Management, said in the article.
For more information on new fund products, visit our new ETFs category.
Max Chen contributed to this article.