The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:In April, a $716B-AUM AM Will Wind Down an ETF Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, March 1, 2024

In April, a $716B-AUM AM Will Wind Down an ETF

Reported by Neil Anderson, Managing Editor

The team at a boutique within a $716-billion-AUM (as of December 31, 2023) asset manager is preparing to wind down an active bond ETF that is less than five years old.

Yesterday, the folks at New York Life Investments' IndexIQ [profile] revealed that, per the fund's board's decision, they plan to liquidate the IQ Ultra Short Duration ETF (ULTR on the NYSE Arca) on April 29. Trading of the fund is scheduled to cease on April 22.

ULTR's inception was on July 31, 2019. As of February 29, 2024 (yesterday), the fund had $14.4 million in AUM. It is a series of IndexIQ Active ETF Trust, and it has an expense ratio of 25 basis points (which includes a 22bps fee waiver).

IndexIQ Advisors LLC serves as investment advisor to ULTR, and NYL Investors LLC serves as subadvisor. The ETF's PM team (unchanged since inception) includes: Matthew Downs, senior director of NYL Investors; and Kenneth Sommer, managing director and head of the investment grade portfolio management team at NYL Investors.

The liquidating fund's other service providers include: SS&C's Alps Distributors, Inc. as distributor; Bank of New York Mellon (BNY Mellon) as administrator, custodian, securities lending agent, and transfer agent; Chapman and Cutler LLP as counsel; and PricewaterhouseCoopers LLP as independent accounting firm. 

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

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use