An $82.2-billion-AUM (as of October 31) firm in New York City is launching an ETF to bet on a specific piece of the transition to a low carbon economy.
| Peter Liao|
Portfolio Manager, Head of Equity ETFs
Today, Brandon Rakszawski
, senior ETF product manager with VanEck profile
the VanEck Green Metals ETF
(GMET on the NYSE Arca). The idea is to invest in companies that process, produce, recycle, and/or refine "green metals," i.e. metals (like copper, lithium, manganese, and zinc) that are critical to various pieces of technology that plays a role in lower carbon energy generation and use. The ETF debuted on Tuesday and comes with an expense ratio of 59 basis points.
and Jason Jin
PM the passive fund, which tracks the MVIS Global Clean-Tech Metals Index
, provider by VanEck's own MVIS. Van Eck Associates Corporation serves as the new ETF's administrator and investment advisor, and Van Eck Securities Corporation serves as its distributor.
Rakzsawski describes the new fund as "a powerful tool for investors looking to add global exposure to the leading and emerging companies driving the supply of green metals."
The new ETF's other service providers include: Dechert LLP
as counsel; Ernst & Young LLP
as independent accounting firm; and State Street Bank and Trust Company
as custodian, fund accountant, securities lending agent, and transfer agent.
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