October 13, 2014 (PLANSPONSOR.com) – Janus Capital Group Inc. has agreed to acquire VS Holdings Inc., the parent company of institutionally-focused exchange-traded fund (ETF) provider VelocityShares LLC.
VelocityShares, launched in 2009, specializes in funds that aim
to deliver sophisticated volatility management. The transaction with Janus includes
an initial upfront cash consideration of $30 million and is expected to close
in the fourth quarter of 2014. Closing of the transaction still requires regulatory approval, according to the firms.
Richard Weil, chief executive officer of Janus Capital
Group, says the acquisition is meant to position Janus for growth within the rules-based
and active ETF universe. The firm hopes to enhance its ability to work with
financial advisers and institutions focused on these instruments, according to Weil. Nick Cherney, co-founder and chief investment officer of VelocityShares,
adds that Janus’ distribution network and product development staff will work
to create additional opportunities to deliver ETFs to institutional clients.
VelocityShares is managed by Cherney, Richard Hoge and Steve Quinn. VelocityShares’ initial growth was
driven by the development of exchange-traded notes (ETNs) in the volatility and
commodity space. The company also provides tactical trading products serving
short-term investors and traders. These products will continue to be
distributed by the VelocityShares team through its existing distribution
channels, according to the firm.
VelocityShares launched a second business around “intelligent
ETFs” for diversified long-term investment portfolios, currently focused on
volatility hedged equities and equal risk weighted solutions. VelocityShares is
headquartered in Darien, Connecticut, and employs 11 professionals. As of
September 30, 2014, it has raised $2 billion in assets.
Last
week, I asked NewsDash readers, “Which “water-cooler” topics, not related to
work, are dominating conversations in your workplace right now?”
Of
the things going on in the world, Ebola (49%) was the top topic responding
readers said they and their coworkers are talking about. This was followed by
professional or college football (41.2%), and major league baseball (27.5%)
rounded out the top three.
Different
topics mentioned by respondents who selected “other” were increase costs of benefits
which results in a decrease of disposable income, the blood moon, and general
government problems. “Other” topics included:
Dodgers
and Angels Loss- The College Football upsets of last weekend and what is going
to happen with the new college bowl system.
All
Government mishaps-Obamacare, IRS Scandal, Bengazi, Ebola, border control, etc.
Being
from the New Orleans area, it's been about the 2 teachers who had three-way s.ex
with their high school student. Maybe not the most HR appropriate topic...
Lack
of leadership in government, government corruption.
The
Blood Moon
Fantasy
Football
I
am working too hard and too long to listen or participate in "water
cooler" conversations
Local
events in community such as ISD embezzlement and scams
How
bad the world has become and what monsters people are
Upcoming
election
sports
is always a hot topic, but today we are all talking about our "Boots for
Bill" day, an attempt to improve office morale
Increase
costs of Benefits which results in a decrease of disposable income.
SEC
Football - Especially Mississippi teams
Zombies
and grandchildren were topics also mentioned in responding readers’ verbatim
comments about workplace conversations not related to work. A couple mentioned
how such chatter is necessary to break up a work day—“thank goodness we have
SOMETHING else to talk about...”—while one reader seemed perturbed with the
work interruption. Editor’s Choice goes to the reader who said: “Are you
kidding. Here, when HR approaches the water-cooler they still scatter or hush.
I can, however, guarantee one thing - it's definitely not about planning for
retirement.”
A big thank you to
everyone who participated in our survey!
Verbatim
Since
we are in Kansas City, the Royals' success in getting to the post-season (and
now to AL division series) for the first time in 29 years is the talk of the
town!!! Some of us are following the Cardinals too -- hoping for a repeat
(literally) of the 1985 I-70 World Series!
It
truly amazes me how some people can spend 20 minutes talking about personal
conversations around the water cooler yet talk about work at the lunch table.
Mostly
Sports Talk around here!
Funny,
we always think the US has all of the answers and sometimes we do not.
Zombies!!!
Walking Dead starts this weekend, which means it's all about the zombies!
Back
in the playoffs after 29 years. What else is there to talk about in Kansas
City?
What?
What? Fantasy Football doesn't make your list? I am truly shocked at this
fumble.
I
don't have the time or the desire to listen or participate in "water
cooler" conversations. I tune them out and focus on my work so that I can
have an "after work" life. I am known for being able to take on an
assignment and see it to completion accurately and timely. With that said the
person who sits next to me spends at least an hour every day gossiping with
others ( in addition to stepping away for lunch and breaks) Thankfully I can
"tune them out" and focus on my work. With that said, it is annoying
when they complain about having too much work to do and not being able to get
it all done. On the other hand they are the same ones that are seen as
approachable and fun at work. Go figure!
Since
we are a small company, we are usually sharing grandchildren experiences.
When you live in the
heart of SEC Country there can only be ONE topic of conversation year round -
SEC FOOTBALL!!! You might turn up your nose at that but frankly some of the
above is much sillier and most of the rest won't be impacted in any way by
water-cooler conversations. Of course neither will SEC FOOTBALL but no one
expects any results on that topic. Besides we don't have a water cooler where I
work.
Verbatim
(cont.)
Royals
vs Orioles - it's been a long time coming, watch out for Billy's stolen bases!
They
are a necessary diversion that allows me to keep my sanity!
They
are healthy and a good way to maintain morale and productivity. However,
there's always that one person who hijacks the conversation, takes it places
nobody wants to go, and then drags it out too long.
everyone
talks about how bad things have gotten in the world but no one talks about how
to make it better one individual at a time.
My
friends/co-workers and I often talk about the idiot do nothing president of the
US along with the fact that we can't wait until 2016!
The
lack of government leadership and policy and what it is doing to this country.
Are
you kidding. Here, when HR approaches the water-cooler they still scatter or
hush. I can, however, guarantee one thing - it's definitely not about planning
for retirement.
Michigan
has two other hot topics. In the spring we talk about where the worst pot holes
are and the rest of the year we talk about where all the road construction is
to fix all the pot holes from the prior winter. How did you get to work? Or did
you see the big hole on xxx street? are common questions.
Many
conversations related to children, grandchildren and parents (family).
thank
goodness we have SOMETHING else to talk about...
NOTE: Responses reflect the opinions of
individual readers and not necessarily the stance of Asset International or its
affiliates.