MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, December 30, 2021 An Empire State Shop Accesses the ETF Space A Gotham area mutual fund shop is teaming up with a nearby quantitative asset allocation specialist to enter the ETF business. Today, Greg Bassuk, CEO of AXS Investments LLC [profile], and John Davi, founder and CEO/CIO of Astoria Portfolio Advisors LLC, reveal the launch the AXS Astoria Inflation Sensitive ETF (PPI on the NYSE). PPI debuted today and is AXS' first ETF. The active ETF is subadvised by Astoria, with Davi as the primary PM. The fund comes with an expense ratio of 71 basis points. Other service providers on the new fund include: Brown Brothers Harriman and Co. (BBH) as custodian, fund accounting agent, and transfer agent; IMST Distributors, LLC as distributor; Morgan, Lewis and Bockius LLP as legal counsel; Mutual Fund Administration, LLC (MFAC) as co-administrator; Tait, Weller and Baker LLP as independent accounting firm; and UMB Fund Services, Inc. (UMBFS) as co-adminstrator. Bassuk lauds the Astoria team for their "long history of success in managing inflation-sensitive portfolios for RIAs and financial advisors." And looking ahead, Bassuk hints that AXS will be rolling out more ETFs soon. "We are just getting started when it comes to the AXS ETF business," Bassuk states. "In the coming months, we'll be aggressively building out our ETF lineup to complement our existing family of differentiated alternative funds, including by partnering with leading investment managers to launch ETFs based on their success and pedigree as leaders in their respective categories." "Our ETFs will provide investors and advisors with access to cutting-edge strategies and best-in-class managers as we endeavor to build what will soon become one of the more compelling ETF lineups in the space," states Ben Fulton, managing director of global business development at AXS. Printed from: MFWire.com/story.asp?s=63822 Copyright 2021, InvestmentWires, Inc. All Rights Reserved |