12th November 2008
Majority interest investment acquired by Fund.com
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It has been announced that generically named website and financial information provider Fund.com has acquired a majority interest in an exchange traded funds developer.
As it shifts its focus on to actively managed ETFs, or propriety exchange traded funds, the website has obtained interests in AdvisorShares Investments.
Under the move, AdvisorShares will join with registered investment advisors to customise services for its clients.
Greg Webster, chief executive officer of Fund.com, commented that "today is an important milestone for our company.
"This strategic investment will allow us to respond to the needs of the investment community for modern solutions that fit their unique needs in a challenging investment market."
This news follows on from generic site and email provider Mail.com recently being praised by website Inquisitr.com.
It was suggested that the site could see similar successes to that of search engine Yahoo! but may be able to avoid the pitfalls experienced of late by the organisation.
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