Although mega-deals have yet to be struck, mergers and acquisitions activity within the ETF industry has picked up in recent months. For example, New York Life’s New York Life Investment Management (NYLIM) unit, the company’s third party global asset management business, recently completed its acquisition of IndexIQ. [New York Life Gets Into the ETF Game]
In the fourth quarter of 2014, Janus Capital (NYSE: JNS) paid $30 million to acquire VelocityShares, the company known for exchange traded notes, such as the VelocityShares Daily 2x VIX Short Term ETN (NYSEArca: TVIX) and the VelocityShares Daily Inverse VIX Short-Term ETN (NYSEArca: XIV).
Smaller ETF providers are becoming attractive acquisition targets as the industry swells toward $3 trillion in assets under management.
RevenueShares Ultra Dividend Fund
