Fund.com, Inc. (FNDM), through its majority-owned subsidiary, AdvisorShares, launches ETFs in the same industry as Invesco Ltd. (IVZ) and Charles Schwab Corp. (SCHW), announced that Marcel Herbst of Harcourt AG joined its subisidiary Weston Capital Management.
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Fund.com, Inc. (FNDM), which originates, seeds and forms both actively managed ETFs and hedge funds, announced today that Marcel Herbst, formerly of Harcourt AG, has joined the management team as managing director of its wholly owned subsidiary Weston Capital Management LLC (“Weston Capital”), which has more than $1 billion under management.
As managing director, Herbst will be responsible for leading global distribution efforts, forging strategic partnerships and overseeing business development. He will report to Weston Capital CEO Albert Hallac.
Hallac said, “Marcel’s tremendous experience will start immediately to make a huge contribution to important strategic projects currently under way. He has the know-how to positively advance our growth.”
Herbst joined the firm after eight years at Harcourt AG as managing director of Harcourt’s US operations and a member of the board. He was also executive director of the Harcourt Group.
Harcourt manages a fund of hedge funds with approximately $4.5 billion in assets. It has a strategic relationship with Weston Capital, contributing its due diligence expertise to the operations of the Weston Capital Partners Fund III, an incubation fund. Harcourt is majority owned by Vontobel Group, the $70 billion Swiss banking group.
Herbst said, “This is a great time to be engaged in seeding new funds and I believe that Weston Capital is perfectly positioned to play a significant and growing role in this business. I look forward to working with Albert and his team on this and other initiatives.”
A diversified financial services company, New York City-based Fund.com, which has assets of $1 billion under management, focuses on the origination, seeding and formation of both actively managed ETFs and hedge funds through its wholly owned subsidiary Weston Capital Management, based in West Palm Beach, FL and its majority-owned subsidiary, Advisor Shares, Bethesda, MD, which is one of the few companies that has an exemption from the Securities and Exchange Commission to create actively managed ETFs. Fund.com markets globally to retail and institutional investors.
Other operations: an ETF and mutual fund online information resource, www.fund.com; online education programs for investors and businesses; and a strategic equity investment in a professional employer organization that provides services to small and medium businesses, including 401k retirement plans and other services.
About Weston Capital Management
Weston Capital Management LLC and its affiliates are an alternative investment group founded in 1993. Based in West Palm Beach, FL, with offices in New York, and London, Weston currently employs more than 25 professionals worldwide, managing in excess of $1 billion. For further information, please visit www.westoncapital.com.
Statements in this press release regarding future performance and the potential advantages of the products and services provided by Fund.com, and any other statements about future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual performance or events to differ materially from those indicated by such forward-looking statements including the Company’s limited operating history and economic conditions generally. Additional information on potential factors that could affect results and other significant risks and uncertainties are detailed from time to time in Fund.com’s periodic reports, including Forms 10-K, 10-Q, 8-K, and other forms filed with the Securities and Exchange Commission.