The team at a publicly traded banking titan's $1.5-trillion-AUM (as of December 31) asset management arm is rolling out their 12th ETF.

Last week, Tony Rochte, global head of ETFs at Morgan Stanley Investment Management (MSIM) [profile], unveiled the launch of the Eaton Vance Floating-Rate ETF (EVLN on the NYSE Arca). The fund is a series of Morgan Stanley ETF Trust, and the launch pushes up to 12 ETFs in total.

EVLN comes with an expense ratio of 60 basis points. The new ETF's inception date was February 6, and as of yesterday it had $20.98 million in AUM.

Morgan Stanley Investment Management Inc. will serve as EVLN's investment advisor. The new ETF's PM team includes executive director Brandon Matsui and three managing directors: Ralph Hinckley, Jake Lemle, and Andrew Sveen. The actively managed fund is designed to invest mostly in floating rate credit investments.

"A pioneer in senior loan investment management, the industry-leading team established its loan platform thirty-five years ago and today manages over $30 billion in client assets globally," Rochte states. "This strategy makes use of that deep loan market expertise and the in-demand ETF strcuture to meet the needs of a broader range of income clients."

Sveen describes EVLN as delivering the team's "longstanding approach to loan investing in a tradable format."

"The strategy combines our time-tested bottom-up approach with the additional tax benefits and intra-day liquidity that the ETF structure provides," Sveen states.

EVLN's other service providers include: Dechert LLP as counsel; Ernst & Young LLP as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor and exclusive principal underwriter; and JPMorgan Chase Bank, N.A. as administrator, custodian, dividend disbursing agent, and transfer agent. 

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