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Friday, October 09, 2020|
Pacer Buys a Pair of Gotham ETFs
An ETF shop is making its fourth acquisition since last year, adopting a pair of Big Apple ETFs.
A spokesperson for Salt did not immediately return a call for comment.
This deal, which closed on October 5, will enable Pacer to expand upon its Factor Suite of product offerings. Both adopted funds will add the Pacer to brand to their names, while retaining the Salt brand too.
Sean O'Hara, president of Pacer ETFs Distributiors, estimated that the target funds have "a little more than 10 million each." No one from Salt will be going over to Pacer, they are just the index provider, O'Hara tells MFWire.
"We are about 5.3 billion in assets, with about 90 employees, and 27 funds before Salt," O'Hara tells MFWire.
"These are opportunities where funds are good investment stories and propose good long term value," O'Hara continues to MFWire. "Where they were currently sitting, there wasn't as much prospect for them to grow and that's why Salt, for example ... seeks us out. We have a pretty large distribution organization ... so in the ETF space we are unique in that sense."
"Our mission is to provide investors with a diverse range of products to help meet their investment goals," stated Joe Thomson, founder and president of Pacer Financial, the distributor of Pacer ETFs. "The acquisition of these funds assists us in meeting the varied risk appetite of our client base in spite of the unprecedented uncertainty facing investors today."
Back in 2018, Salt Financial launched the Salt truBeta High Exposure ETF, designed as an alternative to complex leveraged products.
Pacer Salt high truBeta US Market ETF targets US large- and mid-cap stocks expected to move more than the broader market and is designed for investors seeking more exposure to market sensitive sectors.
Meanwhile, Pacer Salt Low truBeta US Market ETF (launched in 2019) targets US large- and mid-cap stocks that are historically less volatile than the broader market and aims to provide investors with the potential for upside exposure to equities while potentially minimizing downside risk.
This acquisition markets Pacerís fourth since 2019.
Printed from: MFWire.com/story.asp?s=61985
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