The team at a California startup with an activist, ESG focus is rolling out their second active ETF.
| Jennifer Lisa Grancio|
Fund Management at Engine No. 1
Last month, Eli Horton
, head of active ETF investments at Engine No. 1
, and Yasmin Dahya Bilger
, head of ETFs, unveiled
the launch of the Engine No. 1 Transform Supply Chain ETF
(SUPP on the CBOE
). The new fund is a series of the San Francisco-based firm's Engine No. 1 ETF Trust
SUPP's inception date was February 14, and as of yesterday it had grown to $9.827 million in AUM. The new fund comes with an expense ratio of 75 basis points.
Fund Management at Engine No. 1 LLC serves as SUPP's investment advisor. The new fund's PM team includes: Horton as lead portfolio manager; Christopher James
, founder, chief investment officer, and executive chairman of Engine No. 1; and Molly Landes
, director of ETF portfolio management.
SUPP's strategy is to bet on what the Engine No. 1 team describes as the "relocalization of jobs and supply chains, increased automation, and transporation efficiency."
"We will invest in the companies that will drive and benefit from the ongoing supply chain transformation — creating long-term economic value and meaningful social and environmental impacts," Horton states.
"We believe the entire supply chain system is changing and that transformation presents a once-in-a-generation opportunity for investors," Dahya Bilger states. "We're building a portfolio that capitalizes on the transition from old technologies to new ones, from short-term expediency to long-term value creation, and away from the low-cost-at-all-costs thinking of the last 30 years towards a more resilient and modern American economy that is a leader in global competitivenes and that creates well-paying jobs here at home."
SUPP's other service providers include: Brown Brothers Harriman & Co. (BBH
) as administrator, custodian, fund accountant, and transfer agent; Cohen & Company, Ltd.
as independent accounting firm; Foreside Financial Services, LLC
as distributor; Foreside Fund Officers Services, LLC as provider of a chief compliance officer, a principal financial officer, and a treasurer; Institutional Shareholder Services Inc. (ISS
) as independent proxy voting advisory firm; and Ropes & Gray LLP
as legal counsel.
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