VTL Associates, an independent investment advisory and consulting firm based in Philadelphia, has received an infusion of capital from Chinese venture capital firm, Suzhou Industrial Park Kaida Venture Capital.
VTL expects to use the funds to build out its revenue-weighted exchanged-traded fund line, RevenueShares, as well as its sales team and marketing efforts.
Vince Lowry, chairman of VTL Associates, tells Money Management Executive that VTL will file for two new ETFs this Friday. Lowry also says Steven Cornelius was recently hired as senior vice president of distribution and sales. Cornelius was formerly a division manager at Hartford. The firm is also looking to add wholesalers in the Washington DC and New England regions as well.
According to Lowry, the firm currently sells primarily through the RIA and BD channels but hopes to increase its online footprint through working with a direct online marketing company based in West Virginia as well as marketing firm Gregory FCA with the new capital.
Currently, VTLs ETF product line includes: RevenueShares Large Cap Fund (RWL);RevenueShares Mid Cap Fund (RWK); RevenueShares Small Cap Fund (RWJ); RevenueShares Financials Sector Fund (RWW); RevenueShares ADR Fund (RTR); and the RevenueShares Navellier Overall A-100 Fund (RWV).
All told, the firm has $525 million in AUM in the six products.