A startup that focuses on innovation in animal-free products and plant-based ingredients is entering the ETF business.
| Elysabeth Susanne Alfano|
CEO, Chief Marketing Officer
Last Tuesday, Elysabeth Alano
, CEO and chief marketing officer of Los Angeles-based VegTech Invest
(VegTech LLC) [profile
], and Sasha Goodman
, president, unveiled
the VegTech Plant-Based Innovation and Climate ETF
(EATV on the NYSE Arca
). The actively managed, non-diversified ETF launched on December 28 and invests in publicly traded companies in the plant, plant-based ingredient, and animal-free products space.
Penserra Capital Management LLC
subadvises the new fund. VegTech's Goodman and Penserra's Anand Desai
(associate), Dustin Lewellyn
(managing director), and Ernesto Tong
(managing director) PM the new fund. It comes with an expense ratio of 75 basis points.
"We are excited to be what we believe is the first pure-play ETF that invests in companies innovating with plans and producing animal free products," Alfano states. "We believe that today's investors want a more resource efficient, climate friendly, and cruelty-free good and materials supply system ... and want to invest their dollars in the same."
Other service providers to the new ETF include: Quasar Distributors, LLC
as distributor; Sullivan and Worcester LLP
as counsel; Tait, Weller and Baker LLP
as independent accounting firm; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services
) as administrator, fund accountant, and transfer agent; and U.S. Bank National Association as custodian.
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