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

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

Rating:BlackRock Debuts a $105MM-AUM Duo Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, June 20, 2024

BlackRock Debuts a $105MM-AUM Duo

Reported by Neil Anderson, Managing Editor

The team at a $10.473-trillion-AUM asset manager are rolling out a pair of active ETFs, but not under their usual ETF brand.

On Tuesday, Jessica Tan, head of Americas for global product solutions at BlackRock, unveiled the launch of the BlackRock High Yield ETF (BRHY on the Nasdaq) and the BlackRock Long-Term U.S. Equity ETF (BELT). BELT is a series of BlackRock ETF Trust, while BRHY is a series of BlackRock ETF Trust II. (Neither name fund uses BlackRock's iShares brand.)

BRHY and BELT are both actively managed, non-diversified funds, and their inception date was Monday (June 17). BELT comes with an expense ratio of 75 basis points, while BRHY comes with an expense ratio of 45bps. As of Tuesday, BRHY had $100.388 million in AUM, while BELT had $5.179 million.

BlackRock Fund Advisors (BFA) is the investment advisor to both new ETFs, while BlackRock International Limited (BIL) serves as subadvisor. The PM team for BRHY includes David Delbos and Mitchel Garfin, co-heads of U.S. leveraged finance. BELT's PM team includes: Michael Constantis, portfolio manager; and Alister Hibbert, managing director and head of the strategic equity team.

Tan puts the launch of BELT and BRHY in the context of FAs "increasingly incorporationg [active ETFs] into their models-based practice."

Hibbert claims that "a long-term approach is required" for strong public equities returns.

"True business value is unlocked over years, not quarters; and companies that can deliver high returns over time are often undervalued by the market today," Hibbert states. "A high-conviction strategy like BELT is essential to helping investors capture this significant alpha opportunity."

The BlackRock team notes that BRHY is powered by the same PMs and strategy as an existing mutual fund, the $11.909-billion-AUM BlackRock High Yield Bond Fund.

"By delivering alpha opportunities through the ETF wrapper, we aim to capture the upside in rallying markets while protecting assets when high yield markets decline," Delbos states.

Sidley Austin LLP serves as counsel for BELT, while Willkie Farr & Gallagher LLP serves as counsel for BRHY. The two new ETFs' other service providers include: BlackRock Institutional Trust Company, N.A. (BTC) as securities lending agent; BlackRock Investments, LLC as distributor; PricewaterhouseCoopers LLP as independent accounting firm; and State Street Bank and Trust Company as administrator, custodian, dividend disbursing agent, and transfer agent. 

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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
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:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF webinar - Visually Mapping Board Composition: Skills Matrices in Fund Board Rooms, December 18
  2. IMEA webinar - Driving Equity: The FARE Journey and Its Impact on Financial Services, December 19
  3. MFDF webinar - 2024 Fair Valuation Pricing Survey: Building and Strengthening the Valuation Operating Model, January 7, 2025
  4. MFDF webinar - 15(c) White Paper Webinar Series: Part 2 – Board Processes, January 9, 2025
  5. MFDF webinar - AI and Fund Compliance, January 21, 2025
  6. MFDF In Focus - In Focus: Small Boards' Use of Skills Matrices, January 22, 2025
  7. FSI OneVoice 2025, January 27 - 29, 2025
  8. MFDF 2025 Directors' Institute, January 27 - 29, 2025
  9. 2025 ICI Innovate, February 3 - 5, 2025
  10. MFDF Director Discussion Series - Open Forum, February 10, 2025
  11. MFDF Director Discussion Series - Open Forum, February 11, 2025
  12. Expect Miracles In Manhattan 2025, February 27, 2025
  13. Citywire Scottsdale CIO Summit 2025, February 27 - 28, 2025
  14. Nicsa 2025 Strategic Leadership Forum, March 5 - 7, 2025
  15. MFDF 2025 Fund Governance & Regulatory Insights Conference, March 6 - 7, 2025
  16. Citywire Pro Buyer New York Due Diligence Retreat 2025, March 6 - 7, 2025
  17. 2025 MMI Summit, March 27 - 28, 2025
  18. MFDF Director Discussion Series - Open Forum, April 2, 2025
  19. Envestnet Elevate 2025, April 9 - 10, 2025
  20. MFDF Director Discussion Series - Open Forum, April 15, 2025
  21. The 36th Sub-Advised Funds Forum, April 29 - 30, 2025
  22. Expect Miracles 6th Annual Distance Challenge, May 13 - 20, 2025
  23. Morningstar Investment Conference 2025, June 25 - 26, 2025
  24. MFDF Director Discussion Series - Open Forum, July 9, 2025




©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