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Rating:Magoon Helps Investors Bet On the Weight-Loss Med Biz Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, May 21, 2024

Magoon Helps Investors Bet On the Weight-Loss Med Biz

Reported by Neil Anderson, Managing Editor

A Midwestern thematic fund shop's team is rolling out a new index fund to help investors bet on companies in the GLP-1 treatment business.

Christian Magoon
Amplify Investments LLC
This morning, Christian Magoon, CEO of Amplify ETFs [profile], unveiled the launch of the Amplify Weight Loss Drug & Treatment ETF (THNR on the NYSE Arca). The new ETF is a series of Amplify ETF Trust.

THNR's inception date is today, and it comes with an expense ratio of 59 basis points. The new fund is designed to track the VettaFi Weight Loss Drug & Treatment Index.

TMX Group Limited's VettaFi LLC serves as THNR's index provider, Amplify Investments LLC serves as investment advisor, and Penserra Capital Management LLC serves as subadvisor. The new ETF's PM includes a Penserra trio: Anand Desai, senior vice president; Dustin Lewellyn, chief investment officer; and Ernesto Tong, managing director.

"The launch of THNR aligns with our mission to provide innovative thematic investment solutions across new and existing market segments," Magoon states. "We view THNR as not just an investment in high growth pharmaceuticals but as an investment in a healthier future."

THNR's other service providers include: Chapman and Cutler LLP as counsel; Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator, fund accounting agent, and transfer agent; and U.S. Bank National Association as custodian and securities lending agent. 

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