Janus Capital Agrees to Buy VelocityShares to Boost ETF Presence
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Janus Capital Group Inc., which hired Pacific Investment Management Co.’s Bill Gross last month, said it agreed to buy VelocityShares LLC for at least $30 million to expand in exchange-traded products.
The investment firm is acquiring the parent company of VelocityShares, which was founded in 2009 and offers products including exchange-traded funds and notes that track swings in market volatility, according to an e-mailed statement today. Janus plans to complete the deal this quarter.