Windward Investment Management has experienced rapid growth in assets under management in just ten years, from under $ 30 million at year-end 1999 to $ 3.6 billion in 2010. Windward is one of the leading firms in the investment adviser registration (RIA) industry, which seeks to value for its investors through asset diversification and active macro-level investment. The company sells its own model of investment trading exclusively ETFs (ETF). Windward is considering a number of options for future growth and how to finance these, including raising external capital. The case focuses on the decision, which features Windward should review and evaluation of the company, if it decides to raise external capital.
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by Luis M. Viceira, Ricardo de Armas Source: Harvard Business School 30 pages. Publication Date: September 7, 2010. Prod. #: 211005-PDF-ENG
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