The team at a $47-billion-AUM (as of January 30), 52-ETF provider are rolling out another index fund.

On Monday (February 3), Sean O'Hara, president of Pacer ETF Distributors, and Gerald Toledo, global head of custom solutions and alternatives at FTSE Russell, unveiled the launch of the Pacer PE/VC ETF (PEVC on the NYSE Arca, Inc.). Malvern, Pennsylvania-based Pacer Advisors Inc. [profile] serves as PEVC's investment advisor, and the FTSE Russell Group serves as index provider.

PEVC's inception date was Monday, and it comes with an expense ratio of 85 basis points. As of yesterday (February 6), the fund had $2.036 million in AUM.

The PM team for PEVC includes Bruce Kavanaugh, vice president at Pacer, and Danke Wang, portfolio manager. The ETF is designed to track the FTSE PE/VC Index.

O'Hara describes PEVC as "a new way to tap into private market returns."

"PEVC bridges the gap between the exclusivity of private equity and venture capital with the accessibility of ETF products," O'Hara states.

Toledo notes that the FTSE Russell team has "been collecting detailed transaction and valuation data on the universe of US private equity and venture capital companies" for more than 30 years. He adds that they launched their initial index in the space in 2012.

"We are delighted to be working with Pacer to help them provide their clients with coverage of the US Private Equity/ Venture Capitalist market, with our FTSE PE/VC Index," Toledo states.

PEVC is a passively managed series of the Pacer Funds Trust. The new ETF's other service providers include: Pacer Financial, Inc. as distributor; Practus LLP as counsel; Sanville & Company as independent accounting firm; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator, fund accountant, index receipt agent, and transfer agent; and U.S. Bank National Association as custodian and securities lending agent. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE