FundSeeder plans first index funds within six months

Wealthink Ai-innovation Capital

29/10/2018 14:42

SHANGHAI, Oct 29 (Reuters) - FundSeeder, a U.S. financial
software company co-founded by Jack Schwager, author of
best-selling book series "Market Wizards", plans to create its
first index investment products within the next six months, its
CEO told Reuters.
    Using its own performance analytics platform FundSeeder aims
to connect institutional money with some of the world's best
traders, said CEO Emanuel Balarie, who founded the business with
Schwager.
    "You open a store. Let's first get the inventory. And now,
we open up to investors. Conceptually, you're allocating assets
to the best traders globally."
    About 11,000 traders have signed up to FundSeeder, which
will use its analytics tools to measure and rate their
performance.
    Balarie said that in addition to launching index funds, the
company will customise investment schemes to fit investors'
individual requirements.
    Schwager and Balarie are on a China tour to promote the
FundSeeder platform and attract local trading talent. Last year
Florida-based FundSeeder set up a joint venture with Hong Kong's
OP Investment Management as part of efforts to expand to the
Greater China region.
    In the same interview Schwager said FundSeeder's long-term
vision is to disrupt Wall Street. 
    "Right now, the vast majority of assets go to a very small
number of managers," he said. "If you're not from the U.S. or
UK, or you haven't gone to Princeton, or you haven't gone to
Oxford ... you don't have that pedigree. Even if you're a very
skilful trader, you're not going to draw assets.
    "We're looking to democratise and globalise asset
allocation." 

 (Reporting by Samuel Shen and John Ruwitch
Editing by David Goodman)
 ((samuel.shen@thomsonreuters.com;  +86 21 6104 1789; Reuters
Messaging: samuel.shen.thomsonreuters.com@reuters.net))