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Rating:A $173B-AUM AM Adds 2 More Active ETFs Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, June 24, 2024

A $173B-AUM AM Adds 2 More Active ETFs

Reported by Neil Anderson, Managing Editor

The folks at a $173.4-billion-AUM (as of May 31), publicly traded, multiboutique asset manager are rolling out another pair of active ETFs.

David C. "Dave" Brown
Victory Capital Holdings, Inc.
Chairman, CEO
On Friday (June 21), Mannik Dhillon, president of investment franchises and solutions at Victory Capital [profile], unveiled the launch of the VictoryShares WestEnd Economic Cycle Bond ETF (BMDL on the Nasdaq) and of the VictoryShares WestEnd Global Equity ETF (GLOW). The two funds are series of Victory Portfolios II.

GLOW and BMDL's inception date was Friday, and they debuted with about $2.5 million each in AUM. BMDL comes with an expense ratio of 40 basis points, which bakes in a 16bps fee waiver. GLOW's expense ratio is 71bps, which bakes in a 64bps fee waiver. (Both waivers are promised through October 31, 2025.)

Victory Capital Management Inc. serves as investment advisor to both GLOW and BMDL. The PM teams for both funds include four portfolio managers from WestEnd Advisors, LLC, an ETF strategist that Victory bought two years ago. Those four WestEnd PMs on the funds are: Jacob Buchanan, PM; Ned Durden, chief investment strategist; Ty Peebles, PM; and Fritz Porter, chief investment officer.

For BMDL, the PM team also includes four folks from Victory Income Investors. They are: Michael Duncan, senior fixed income research analyst; James Jackson, co-CIO and head of fixed income portfolio management; Jason Lincoln, senior fixed income research analyst; and Zach Winters, senior fixed income research analyst.

Dhillon puts the launch of BMDL and GLOW in the context of the Victory team hearing "clients' needs for more vehicle options from skilled managers."

"GLOW providers investors access to WestEnd's existing Global Equity SMA/UMA Strategy in an ETF wrapper, further our commitment to delilver financial advisors more ways to access WestEnd's proven investment capabilities," Dhillon states. "BMDL delivers the investment expertise of two Victory Capital Investment Franchises through a single ETF and expands our Company's already established presence in the active fixed income ETF space."

BMDL and GLOW's otther service providers include: Citibank, N.A. as custodian, securities lending agent, and transfer agentt; Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; and Sidley Austin LLP as counsel. 

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