ISE Announces The Launch Of The First Mutual Fund Based On An ISE Index


The International Securities Exchange (ISE) today announced that the Virtus Wealth Masters Fund (Tickers: VWMAX, VWMCX, VWMIX), which tracks the Horizon Kinetics ISE Wealth Index (Ticker: RCH), was launched by Virtus Investment Partners, Inc. (NASDAQ: VRTS). It is the first mutual fund based on an index jointly developed by ISE and Horizon Kinetics LLC.

The Horizon Kinetics ISE Wealth Index includes companies whose senior managements have demonstrated track records of skill and specific industry knowledge that have translated into long-term shareholder value creation. These individuals have also used their respective companies as the primary means of accumulating substantial personal wealth, such as with index components Berkshire Hathaway (Ticker: BRK/B) led by Chairman Warren Buffet and Liberty Media Corporation (Ticker: LMCA) headed by Chairman John Malone. The fund began trading on September 6, 2012.

"We are very excited to expand the product portfolio of our index development group to include the Virtus Wealth Masters Fund, the first mutual fund tracking a Horizon Kinetics-ISE index to debut" said Kris Monaco, Head of New Product Development at ISE. "Working with our partners at Horizon Kinetics, this index offers a unique view into the role that insider wealth can have on the performance of publicly traded companies, and the introduction of the Virtus Wealth Masters Fund provides investors with an opportunity to gain exposure to these high-performance businesses and their seasoned management teams."

"The index that drives the Virtus Wealth Masters Fund provides investors with a portfolio of high-quality, US-listed public companies run by skilled management teams whose interests are aligned with those of shareholders," said Doug Kramer, CEO of Horizon Kinetics. "The index is based on fundamental research focused on identifying talented owner-operators that began at Horizon Kinetics over 14 years ago."

The Virtus Wealth Masters Fund will be subadvised by Horizon Asset Management LLC, a subsidiary of Horizon Kinetics LLC.