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Rating:A $1.8T-AUM Firm Adds Its 15th ETF Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, November 8, 2022

A $1.8T-AUM Firm Adds Its 15th ETF

Reported by Neil Anderson, Managing Editor

The team at a publicly traded company's $1.8-trillion-AUM (as of September 30) asset management arm is rolling out their 15th ETF. The new fund is also the firm's seventh actively managed ETF.

Hanneke Smits
BNY Mellon Investment Management
Last Thursday, Andy Provencher, head of North America distribution at BNY Mellon Investment Management [profile], and James Lydotes, deputy chief investment officer of equities and head of equity income at BNY Mellon IM's Newton Investment Management North America LLC boutique, unveiled the launch of the BNY Mellon Global Infrastructure Income ETF (BKGI on Cboe Global Markets). The new fund's inception date was last Wednesday, and it comes with an expense ratio of 65 basis points. As of yesterday, it had $10.27 million in AUM.

BKGI is a series of the BNY Mellon ETF Trust. BNY Mellon ETF Investment Adviser, LLC serves as investment advisor to the new fund, Newton serves as sub-advisor, BNY Mellon Securities Corporation serves as distributor, and the Bank of New York Mellon serves as custodian, securities lending agent, and transfer agent.

Lydotes and Brock Campbell, head of global equity research at Newton, PM the new fund.

Lydotes puts the launch of BKGI in the context of infrastructure assets offering "historica predictability and stability through market cycles."

"This addition highlights our continued commitment to providing innovative, outcome-oriented strategies through versatile vehicles," Provencher states. "Through leveraging the capabilities, knowledge and expertise of Newton in equity investing, we're able to provide a differentiated infrastructure approach for our clients."

The new fund's other service providers include Ernst & Young LLP as independent accounting firm and Morgan, Lewis & Bockius LLP as counsel. 

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