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 |
|
Friday, March 4, 2022 A $78B-AUM Firm Powers On a Thematic Fund A $77.5-billion-AUM (as of December 31), publicly traded fund firm recently powered on another thematic, passively managed ETF, this time focused on "battery and energy storage solutions," or BESS for short.
The new fund, which comes with an expense ratio of 45 basis points, debuted on February 17 and had about $2 million in AUM as of yesterday. The launch comes two years after the WisdomTree team launched a similar offering, the WisdomTree Battery Solutions UCITS ETF (VOLT), on European exchanges; that UCITS ETF had grown to $541 million in AUM as of February 14. Schwartz puts the launch of WBAT in the context of rising renewable energy demand boosting demand for electric vehicles and the batteries that power them. WisdomTree Asset Management is WBAT's investment advisor, while Mellon Investments Corporation is the subadvisor. The fund is PMed by five members of Mellon's equity index strategies portfolio management team, including equity index portfolio management chief Marlene Walker-Smith and four vice presidents: David France, Todd Frysinger, Vlasta Sheremeta, and Michael Stoll. The new fund's other service providers include: Ernst & Young, LLP as independent accounting firm; Foreside Fund Services, LLC as distributor; Morgan, Lewis & Bockius LLP as counsel; and State Street Bank and Trust Company as administrator, custodian, securities lending agent, and transfer agent. Printed from: MFWire.com/story.asp?s=64084 Copyright 2022, InvestmentWires, Inc. All Rights Reserved |
