USAA is well known for its insurance business, especially when it comes to serving veterans. Less recognized is the company’s growing fund business which now holds $68 billion under management. Keith Sloane, head of third party distribution with USAA Investment Management, said the company is on a mission to raise its mutual fund profile. ‘The mutual fund business for the USAA has been around a long time,’ said Sloane. ‘We’ve got almost a 45 year-old business that began in the early 70’s because our members’ asked. They wanted us to be able to manage their money just like we’d been managing our own money well before that. So, we’ve had consistent, sustainable, deliberate growth for many, many years.’ Sloane added that USAA is one of the top 50 of asset managers and ‘it’s a quiet, successful, meaningful business for USAA that we’re now starting to make better known.’ TheStreet’s Gregg Greenberg reports from Chicago.
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