#seeding

#seeding

Riptide Advisors, Errickson's new multimanager firm that's set to start trading on January 1, was created to address the industry's biggest challenge: a shortage of talented, experienced portfolio managers. The new manager's focus, Errickson said, is to be "basically a seeding vehicle" that will let unproven but promising talent - think an analyst at a big firm like Millennium who has never managed a book on their own - run small portfolios of up to $20 million with the goal to add capital and responsibilities over time by graduating to the firm's larger funds.