SHANGHAI (Reuters) – FundSeeder, a U.S. financial software company co-founded by Jack Schwager, author of best-selling book series “Market Wizards”, plans to create its first index investment products within the next six months, its CEO told Reuters.
Using its own performance analytics platform FundSeeder aims to connect institutional money with some of the world’s best traders, said CEO Emanuel Balarie, who founded the business with Schwager.
“You open a store. Let’s first get the inventory. And now, we open up to investors. Conceptually, you’re allocating assets to the best traders globally.”
About 11,000 traders have signed up to FundSeeder, which will use its analytics tools to measure and rate their performance.
Balarie said that in addition to launching index funds, the company will customize investment schemes to fit investors’ individual requirements.
Schwager and Balarie are on a China tour to promote the FundSeeder platform and attract local trading talent. Last year Florida-based FundSeeder set up a joint venture with Hong Kong’s OP Investment Management as part of efforts to expand to the Greater China region.
In the same interview Schwager said FundSeeder’s long-term vision is to disrupt Wall Street.
“Right now, the vast majority of assets go to a very small number of managers,” he said. “If you’re not from the U.S. or UK, or you haven’t gone to Princeton, or you haven’t gone to Oxford … you don’t have that pedigree. Even if you’re a very skilful trader, you’re not going to draw assets.
“We’re looking to democratize and globalize asset allocation.”
Reporting by Samuel Shen and John Ruwitch; Editing by David Goodman