MEMBERS Trust Makes Exchange-Traded Fund Cut
TAMPA, Fla. -- Barclays Global Investors iShares has selected MEMBERS Trust Company for inclusion in its inaugural Exchange-Traded Fund Managed Solutions guide, the only credit union-linked entity to make the cut.
The trust company, which was recognized for its innovations with ETFs, joins 24 other asset managers nationwide featured in the guide. MEMBERS Trust said in 2004 it was one of the first trust companies to offer an all ETF set of portfolio allocations and as of Nov. 1, 2008, had $80 million in ETF assets under management. In addition to being the only credit union-affiliated company in the guide, MEMBERS Trust is the only trust company listed. The publication, which is only available to institutional investors, will be published quarterly.
To set itself apart from competitors, the company wanted to adopt a fund strategy that would reduce costs, offer transparency and create tax-efficient investment portfolios, according to John Largent, chief investment strate-gist at MEMBERS Trust.
Recognized as an ETF industry leader with more than 300 funds, BGI manages $1.3 trillion in assets for institutions and individual investors.