The Validea Market Legends ETF has garnered more than $18 million in AUM in just three months. “I’m very pleased with the results so far considering our original goal was to have $25 million AUM in the first year,” Reese says.
The fund has gained 7 percent since its launch.
For now, advisors can access the VALX fund through any online discount brokerage platform such as Charles Schwab, TD Ameritrade, Fidelity, Scottrade and others. But Validea is working to expand its reach to the advisor community through other means.
“We’re in the process of making inroads with the ETF due-diligence teams at major wirehouses, including Morgan Stanley and UBS,” says Justin Carbonneau, a partner who manages Validea’s private client group.