In this week’s fund news, Vanguard and BlackRock take stakes in Just Invest and SpiderRock, respectively; Goldman rolls out its first transparent active equity ETF; and Jacob Asset Management gets into the ETF business.
The investment in SpiderRock Advisors adds to BlackRock’s personalization and tax management capabilities for SMAs and builds on its acquisition of Aperio.
Following a tidal wave of deals in the direct indexing space, Vanguard announces its first ever corporate acquisition, buying wealth management tech company Just Invest.
Citi Self Invest will be available to checking account holders at first and applies to individual stocks and ETFs but will later add other types of investments, such as mutual funds or options.