The folks at a 6-year-old, $57-billion-AUS (as of March 14), Southern California unit within a $260-billion-AUS (as of March 3), Midwestern asset manager are rolling out a fund focused on quality U.S. stocks.

Eduardo A. Repetto Avantis Investors Chief Investment Officer

Last week, Phil McInnis, chief investment strategist at American Century's Avantis Investors [profile], and Matthew Dubin, a portfolio manager at Avantis, unveiled the launch of the Avantis U.S. Quality ETF (AVUQ on the Nasdaq). Kansas City, Missouri-based American Century Investment Management, Inc. serves as investment advisor to the new ETF.

AVUQ's inception date was March 25, and the fund comes with an expense ratio of 15 basis points. As of yesterday (April 2), the new ETF had more than $120 million in AUM.

The new fund's PM team includes five members of American Century's Avantis arm, which is based in Los Angeles. AVUQ's PMs include: Mitchell Firestein, senior PM; Daniel Ong, senior PM; Ted Randall, senior PM: Edwardo Repetto, chief investment officer; and Dubin.

McInnis describes AVUQ as offering investors "another low-cost active option as they build out their asset allocation."

"AVUQ offers a broadly diversified, value-added approach to U.S. equities while leveraging the philosophy and thoughtful implementation process found in all the Avantis Investors strategies," Dubin states.

AVUQ is an actively managed, non-diversified series of the American Century ETF Trust. The new fund's other service providers include: American Century Services, LLC (ACS) as administrator; Deloitte & Touche LLP as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; and State Street Bank and Trust Company as custodian, dividend paying agent, securities lending agent, sub-administrator, and transfer agent. 

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