Vident Financial, the exchange traded funds issuer behind some of the fastest-growing ETFs to come to market over the past year, said that its Vident Investment Advisory unit commenced ETF trading from its New York office today.
“Vident Financial established VIA earlier this year in an effort to improve trading efficiencies and better control costs associated with their ETFs. VIA plans to trade funds for Vident Financial as well as other third-party funds,” said Vident in a statement.
Denise Krisko is heading up the new Vident operation. She previously held leadership roles with Index Management Solutions (IMS), Mellon Capital Management (MCM), Bank of New York (BNY), Northern Trust and The Vanguard Group, according to the statement. Vanguard is the third-largest U.S. ETF issuer.
Atlanta-based Vident burst onto the ETF scene in late October 2013 with the Vident International Equity Fund (NasdaqGS: VIDI). It took VIDI just five months to reach $500 million in assets under management and the ETF now has over $728.7 million in AUM. VIDI has grown so rapidly that on the ETF’s first anniversary, Vident announced that it will reduce the ETF’s starting on March 1, 2015. [Vident Lowers Fees on International ETF]
The firm introduced the Vident Core U.S. Equity ETF (NasdaqGS: VUSE) in January with that ETF need less than four months to eclipse the $100 million in AUM milestone.
VUSE tracks the Vident Core U.S. Equity Index (VIUSX), which tracks companies rooted in what Vident deems principles-based investing. The ETF has more than doubled in size May and now has more than $243 million in assets, making it one of the most successful new ETFs to come to market this year. [Another Good Year for New ETFs]