Dentist Plans Exchange-Traded Fund
May 8, 2000
The world of exchange-traded funds - so far dominated by two of the money management industry's largest players - is about to get an unconventional competitor.
Michael J. Voskian, a Ho-Ho-Kus, N.J. dentist, is planning to offer an exchange-traded fund. The Voskian Funds Trust filed with the SEC April 12 to offer the SCI Fund. Voskian, president of Voskian Capital Management, will serve as portfolio manager of the fund, according to the registration statement.
The registration statement did not identify the index that the SCI Fund will track, nor did it provide details about the fund's expenses. Voskian declined to comment on the filing.
Although several large money-management companies are considering whether to offer exchange-traded funds, two large index-oriented firms, State Street Global Advisors of Boston and Barclays Global Investors of San Francisco, now dominate the $39 billion in assets market. SSgA has assets under management of $720 billion. Barclays has assets of nearly $800 billion, said Tom Taggart, a spokesperson.