Kirshenbaum Bond Senecal & Partners in New York has skin in the game.
According to Stuart Elliott of The New York Times, the agency is introducing a stock fund that contains shares from K.B.S.&.P. clients.
The index is intended to track the performance in the stock market of shares of companies that are publicly traded and clients of the agency. Eighteen of its more than 30 clients have stock that is traded on exchanges, among them BMW, Cablevision, Capital One Financial, Diageo, Kao Brands, TJX and Weight Watchers.
What makes the index interesting is that it is not a fanciful construct but a real portfolio, a mini-mutual fund that will have its own ticket symbol, KBSPX. Agency executives are opening a brokerage account with another client, the Vanguard Group, into which will be deposited 300 shares of each of the 18 companies.
The index was the brainchild of two Kirshenbaum Bond employees: Aric Cheston, partner and creative director, and Matt Powell, chief technologist. They will each receive a cash bonus of $10,000 from MDC.
