MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, September 15, 2022 A Startup Index Shop POPs Out Its First ETF A startup asset management unit's team is partnering with a white-label ETF specialist to enter the U.S. ETF business.
CT Investments serves as the new fund's index provider, while Exchange Traded Concepts, LLC (ETC) serves as the fund's investment advisor. (The fund is a series of the Exchange Traded Concepts Trust.) ETC portfolio managers Todd Alberico, Andrew Serowik, and Gabriel Tan will PM the new fund. The fund's inception date was August 31, and it began trading on the NYSE on September 1. As of yesterday, it had $2.086 million in AUM. The fund comes with an expense ratio of 75 basis points. "We are launching this ETF to provide an opportunity for global fans who love K-pop to participate in the potential growth and development of the K-pop industry," states Lee, who is also in the K-pop IP business. Lee also highlights the international growth of K-pop music sales in recent years. "The global market for K-pop is still at an early stage of growth and the KPOP and Korean Entertainment ETF will offer thematic exposure to key companies in the Korean entertainment and media industry that stand to benefit from this secular trend." The new fund's other service providers include: Bank of New York Mellon (BNY Mellon) as custodian and transfer agent; Cohen & Company, Ltd. as independent accounting firm; Moorgate Benchmarks as index calculator; Morgan Lewis & Bockius LLP as counsel; SEI Investments Global Funds Services as administrator; and SEI Investments Distribution Co. (SIDCO) as distributor. Printed from: MFWire.com/story.asp?s=64879 Copyright 2022, InvestmentWires, Inc. All Rights Reserved |
