VECIF: Entertainment & Communications Index ETF (managed by Verve Financial Services)
An Entertainment & Communications sector ETF
Total shares: 0
Prospectus
Company Tagline
An Entertainment & Communications sector ETFCEO's Real Life Name
Aaron D. SmalleyCEO's Real Life Location
Midland Michigan U.S.A.Board of Directors
Current Verve Financial Services Officers/Internal Directors:CEO/CFO: Redd Oconnell
Marketing: Delia Coleman
IT: Stray Underwood
External Directors:
IntLibber Brautigan
Second Life's first Entertainment and Communications sector Index ETF
After many years of active and profitable RL investing and with a bachelor’s degree in business with a focus in financial analysis, and currently serving as the CFO of two real-world private businesses; I recently formed Verve Financial Services, which is intended to be a financial and business consulting firm that is also in the process of setting up several investment products that will be intended to serve the investing public in the same way that their real-life equivalents do. Verve Financial will be operated with a strong sense of business ethics as well as with a firm understanding of the capital and assets markets, both virtual and real-world.Verve Financial Services management of these funds is being handled and structures such that if the fund is profitable, we will collect s very small portion of that profit in exchange for our services, whereas if the fund proves not to be profitable, our fee structure is designed such that we will only make enough to cover our bare minimum operational costs. Thus we will have as much interest in seeing this ETF become profitable as the investors who entrust their funds to us.
There are safety nets to ensure that we will not run off with these funds as we have a 3 month pre-paid tier holding of more than 3,000 square meters of waterfront property on the Venture Square sim, as well as the management of VFS having personal funds invested into all four of the current stock markets that operate within SL. Also the funds that we manage will all be reinvested into these exchanges, thus if anything were to happen, the investors would easily be able to recapture most of their value due to the various exchanges being able to seize control of all of the funds, as well as the management companies funds and land holdings.
I am also a firm believer in business ethics and morals, and as such value the integrity that I have that others who know me are likely to attest to. In this type of a position without trust you will not be able to conduct business, and as such I intend to work hard and dedicate myself to showing the level of dedication and integrity that underlies everything I do. And my plan is to instill this same level of trust and integrity into the rest of the staff of Verve Financial Services, as such integrity and trust is what will make or break us as a service based company. Our goals with the operation of these funds is first to provide a much wider range of investment products for the general public to utilize in their drive towards financial stability. Most of the products we offer will allow small investors who are not knowledgeable about the markets and companies that trade on them to be able to combine their funds with others and in the process reduce their risk and increase the diversity and stability of their investments. However all potential investors should still recognize that investing can still be risky, and as such I highly recommend that you don’t invest what you cannot afford to lose. This is our first offering with several different products to fit the needs and interests of the SL investment public. Likewise we will also be offering many more investment products in the future, some of which will be more risky but possibly more rewarding to suit the desires of those who are willing to take bigger risks in the hopes of seeing bigger returns.
Business Overview
This Entertainment & Communications Index ETF (Exchange Traded Fund) is being set up to essentially track the largest companies of the Entertainment & Communications sector. As such this ETF will by definition see roughly the same return as if an investor were to invest widely within most of the companies that make up the Entertainment & Communications sector.Business Strategy
This particular ETF will have modest management costs as compared to many others, due to the fact that it will be a passively managed sector fund with only minimal trading occurring under the guidance of the Verve Financial Services policies (which are intended to try to minimize any major losses that could potentially develop). Stocks will be held roughly at the ratio that they trade at and are publicly available at on the exchange that they trade on relative to other companies within their sector on the same and other exchanges.All shares not held by the public will be held by Verve Financial as “Treasury Shares” such that as we will sell additional shares to the public as needed based on a supply and demand through our open buy and sell operational system (the specifics of this system will appear on our web site once it is operational) at slightly below and slightly above the NAV of this ETF’s assets. Any funds raised via sale of additional funds will be added to the ETF’s capital and will be used to purchase more shares of the companies listed in proportion to the number of ETF Shares purchased and relative to the current asset makeup of the ETF.
All dividends that are paid by the companies held by this ETF will be redistributed to its shareholders in proportion to their ownership in the ETF, minus the 3% profit fee charged by Verve Financial Services for managing the fund. Since these shares will vary in prices based off of the value of the assets held by the ETF, the hope is that most of the profits will come through an increase in valuation of the assets held by this ETF, and the buy-back and sell procedure briefly explained above will ensure that the trading price of these shares stays fairly close to the asset value (in the same way as real-life ETF’s operate).