Join Us for the VIRTUAL POOLING
Webinar Series!
Global Hub & SpokeSM System
ETFs AT LAUNCH…
With Seed Money, Scale, and Historic Performance and with a 24-Hour Trading Platform.
Session 4 Coming Fall 2024
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Join industry leaders from across the globe as we discuss new and innovative opportunities in the ETF space.
Session 4
Coming Fall 2024
11:00 AM New York / 4:00 PM London
Presented by
Global Fund Connections, LLC
Our Founding Supporters
Agenda
Session 1
January 24, 2024 | 11:00 AM New York | 4:00 PM London
What is Virtual Pooling?
Basic components of a virtual pool
- Co-management, co-custody contractual arrangement
- Single fully invested portfolio (virtual pool) for each investment strategy
- Investment, liquidity overlays
- Tax and portfolio transparency
- Funds/ETFs/managed accounts are otherwise independent
Creation of a virtual pool
- Notional separation of existing core securities portfolio
- Adapt contractual structure of separated core portfolio
- Other funds/ETFs/managed accounts, regardless of domicile or type, invest directly through separated core portfolio
- No fund shareholder action needed
What Problems Does it Solve?
- Greatest efficiencies/lowest expenses for existing funds/ETFs/managed accounts
- Lowest breakeven/lowest expenses for new ETFs
- Historic performance at launch for new ETFs
- Greatest flexibility to create new mandates for new ETFs
- Avoids “free-riding” and “front running” practices by others
- Provides performance and scale to sub-advisory clients
How Did We Get Here?
- Comparison to other structural innovations in the industry and ETF ecosystem
- Comparison to ETF share classes and fund conversions
Featured Speakers
Meet Our Panelists
Phil Coolidge
Chief Executive Officer, GFX
Barry Barbash
Former Director of the SEC’s Division of Investment Management and Retired Partner, Willkie, Farr & Gallagher LLP
Paul Freeman
Senior Advisor, GFX; formerly Managing Director, Head of Product Development and Range Management EMEA, BlackRock
Debbie Fuhr
Founder and Managing Partner, ETFGI
Ken Grant
Independent Director, Unified Series Trust, formerly Chief Development Officer, Global Trust Company
Christophe Orly
Formerly Managing Director, Wellington Management and Dodge & Cox; Head of Client Group at Ownership Capital
Tickets
Register Today!
Register today! A reminder will also be sent to register for each subsequent session in the series. Recordings will be available in case you miss one.
Agenda
Session 2
February 29, 2024 | 11:00 AM New York | 4:00 PM London
Will They Let Us Do It?
- Irish, UK and Luxembourg approvals
- SEC reviews and considerations
- Highest common denominator framework
- Service provider regulation and delegation
How is it Tax Transparent?
- No novel tax treatment or adverse tax effects
- Tax treaty effects (double look-through)
- Tax free asset movements to/from the virtual pool
- No change to withholding rates at local sub-custody level
How Can We Do It?
- Accounting, custody, fiduciary, administration and compliance services
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- Compatibility with existing operating systems
- No novel accounting treatments
- No incremental expenses; expense segregation
- Currency, records and statements
- No disclosure of buying/selling programs
- No change to securities lending practices or derivative usage
Featured Speakers
Meet Our Panelists
Phil Coolidge
Chief Executive Officer, GFX
Ron Cima
Senior Counsel, Seward & Kissel LLP
Rick Enfield
Chief Operating Officer, GFX
Chris Bergin
Partner, A&L Goodbody LLP
Tim Hagerty
Formerly Department Head, Western Asset Management, Senior Vice President State Street
Tickets
Register Today!
Register today! A reminder will also be sent to register for each subsequent session in the series. Recordings will be available in case you miss one.
Agenda
Session 3
March 28, 2024 | 11:00 AM New York | 4:00 PM London
How Can We Use It?
- Enhanced efficiency and liquidity for existing funds/ETFs/managed accounts
- Cross-vehicle, cross-border, cross-exchange, cross-sponsor, cross-mandate
- Performance – historic/portable at launch; consistent/stable ongoing
- GIPS performance implications
Why is There Greater Liquidity for Investors/Market Makers?
- Equivalent holdings across ETFs and other funds/managed accounts
- Conversion of holdings to other ETFs/funds/managed accounts
How Can We Efficiently Create New Mandates?
- Holding additional securities/derivatives outside of the virtual pool
- Investments through multiple virtual pools
Featured Speakers
Meet Our Panelists
Phil Coolidge
Chief Executive Officer, GFX
Heywood Sloane
Senior Advisor, GFX; formerly Managing Director, CDA Wiesenberger; VP Product Management, Delaware Investments
Christophe Orly
Formerly Managing Director, Wellington Management and Dodge & Cox; Head of Client Group at Ownership Capital
Ken Grant
Independent Director, Unified Series Trust, formerly Chief Development Officer, Global Trust Company
Tickets
Register Today!
Register today! A reminder will also be sent to register for each subsequent session in the series. Recordings will be available in case you miss one.
Agenda
Session 4
Coming Fall 2024 | 11:00 AM New York | 4:00 PM London
How can U.S. mutual funds and U.S. and European managed accounts connect with new U.S./UCITS ETFs?
- Steps for funds and account owners to take to create the virtual pool
- Steps for new U.S./UCITS ETFs to take to invest through the virtual pool
How can UCITS and UK CIS connect with new U.S./UCITS ETFs?
- Steps for UCITS and UK CIS to take to create the virtual pool
- Steps for new U.S./UCITS ETFs to take to invest through the virtual pool
Featured Speakers
Meet Our Panelists
Phil Coolidge
Chief Executive Officer, GFX
Stacy Fuller
Partner, K&L Gates LLP
Chris Bergin
Partner, A&L Goodbody LLP
Danielle Rutsky, CAIA
ETF Senior Product Manager, Nasdaq
Tickets
Register Today!
Register today! A reminder will also be sent to register for each subsequent session in the series. Recordings will be available in case you miss one.
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