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Rating:A $13B-AUM Firm's Climate Investment Suite Expands Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 14, 2022

A $13B-AUM Firm's Climate Investment Suite Expands

Reported by Neil Anderson, Managing Editor

The team at a $13.413-billion-AUM (as December 31) asset manager is expanding their climate investment suite.

Jonathan Krane
Founder, CEO
Yesterday, Jonatha Krane, CEO of Krane Fund Advisors, LLC (dba KraneShares [profile]), and Luke Oliver head of strategy, unveiled the launch of the KraneShares Electrification Metals Strategy ETF (KMET on the NYSE Arca, Inc.). Dave Gedeon, head of producte for Bloomberg's Multi-Asset Index business, confirms that KMET is designed to track the Bloomberg Electrification Metals Index.

KMET is a series of the KraneShares Trust. Bloomberg Index Services Limited serves as the fund's index provider, and Krane Funds Advsiors serves as investment advisor. The new fund's three lead PMs include: James Maund, head of capital markets at KraneShares; Anthony Sassine, senior strategist; and Oliver, managing director. Jonathan Shelon, chief operating officer of KraneShares, is also on the fund's PM team.

KMET had $20.139 million in AUM as of yesterday, and it comes with an expense ratio of 79 basis points.

The fund is desigend to invest in futures contracts on alumninum, cobalt, copper, lithium, nickel, and zone; all metals that are key in renewable energy infrastructure, electric vehicles, and batteries.

"Transitional commodities are expected to experience a supply and demand imblanace over teh next decade," Oliver sates. "Now is the time to invest in these electrification metals as demand is poised to accelerate into the energy transition."

Gedeon puts teaming up with KraneShares on the new ETF in the context of Bloomberg's goal to "push development forward in providing new solutions for the world's changing investment demands."

The new fund's other service providers include: Brown Brothers Harriman & Co. (BBH) as custodian and transfer agent; K&L Gates LLP as counsel' KPMG LLP as indepedent accounting firm; SEI Investments Distribution Co. as distributor; and SEI Investments Global Fund Services as administrator. 

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