In a move to boost its offerings to customers, online
broker E*TRADE Group Inc. Tuesday
announced plans to offer mutual funds from Warburg Pincus Asset Management Inc.
The agreement calls for E*TRADE to offer its customers more than 30 no load
Warburg Pincus Funds online without transaction fees. Financial terms were
not disclosed.
“At Warburg Pincus, we’ve been keeping a close eye on the rapid growth of
the online financial services sector and we’re keenly aware of E*TRADE’s
prominence… ” said Gene Podsiadlo, managing director at Warburg Pincus.
“We think online investing will build quickly for mutual funds and will
extend brands like ours around the world.”
E*TRADE recently embarked on a strategy to become an investment portal by
adding more investment research. The company also opened the site to the
public and recently began a national advertising campaign.
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