NU Online News Service, Jan. 4, 2005, 4:10 p.m. EST
Park Avenue Securities L.L.C., New York, is basing a new asset-management program on Exchange Traded Funds.[@@]
Money managers at Park Avenue, a unit of Guardian Life Insurance Company of America, New York, will allocate customer assets but cut customer costs by using ETFs, Park Avenue says.
ETFs are funds that trade as stocks do and invest in baskets of securities that mirror the performance of particular stock indices, asset classes or market sectors.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.