The folks at a $1.85-trillion-AUM (as of December 31), publicly traded asset manager are rolling out a new active fund that invests in energy infrastructure stocks and midstream master limited partnerships (MLPs).

Andrew Ryan Schlossberg Invesco Ltd. President, CEO

Yesterday (February 20), Brian Hartigan, global head of ETFs and index investments at Atlanta-based Invesco Ltd. [profile], and Brian Watson, senior portfolio manager, unveiled the launch of the Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE on the Cboe BZX Exchange Inc.). Invesco Capital Management LLC serves as the new ETF's investment advisor, while Invesco Advisers, Inc. serves as securities lending agent and subadvisor.

PIPE's inception date was yesterday, and it comes with an expense ratio of 75 basis points. As of today, the new fund now has $10 million in AUM.

Watson and Bob Coble, another PM, are PMing PIPE. Hartigan descibes the new ETF as "a great example of Invesco leveraging [its] deep, in-house expertise to extend the benefits of [Invesco's] high demand offerings across investment vehicles."

According to Watson, Invesco's SteelPath team has been "a pioneer in midstream infrastructure investing since 2004 and is a leader in the category."

"PIPE will provide investors access to the SteelPath investment capabilities through an actively managed ETF," Watson states. "Sector fundamentals are healthy and currently offer attractive distribution yield and capital appreciation potential supported by continued midstream volume growth driven by demand tailwinds from data centers and liquified natural gas exports."

PIPE is an actively managed, non-diversified series of the Invesco Actively Managed Exchange-Traded Fund Trust. The new fund's other service providers are: the Bank of New York Mellon as administrator, custodian, dividend disbursing agent, fund accounting agent, securities lending agent, and transfer agent; Invesco Distributors, Inc. as distributor; PricewaterhouseCoopers LL as independent accounting firm; and Stradley Ronon Stevens and Young & LLP as counsel. 

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