ETF firm to donate 15% of its fees
BY PENSIONS & INVESTMENTS | JANUARY 25, 2010
ETF Portfolio Management LLC plans to give back, a little at a time.
The Los Angeles- and New York-based firm that manages exchange-traded funds pledged last month to donate 15% of its advisory fees to schools and charities, according to an e-mail from David S. Kreinces, portfolio manager and firm founder. (*Note: In 2013, the Pledge was reduced to 8%, from 15% originally.)
However, ETF Portfolio Management executives plan to fulfill that promise in stages. The pledge applied to new clients starting Dec. 16. Donations will not be made based on advisory fees earned by the 2-year-old firm from existing clients until next year, Mr. Kreinces stated in his e-mail.
What’s more, ETF Portfolio Management does not charge advisory fees on all of its strategies. It has not charged advisory fees on its passive core portfolios since the firm’s founding in 2007.
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