MutualFundWire.com: A $43B-AUM Gotham Shop Bets On VR
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Friday, April 29, 2022

A $43B-AUM Gotham Shop Bets On VR


A $43-billion-AUM (as of March), 90-strategy, 100-plus-employee arm of a $648-billion-AUM (as of December), 12,000-plus-employee multinational is rolling out another thematic ETF, this time focusing on the virtual world.

Luis Berruga
 Mirae's Global X Management Company LLC
CEO
Yesterday, Pedro Palandrani, director of research at Mirae's Global X ETFs [profile], unveiled the new Global X Metaverse ETF (VR on the Nasdaq). The passive fund debuted on Tuesday as a series of Global X Funds, joining the fund firm's thematic growth family (which includes more than 35 ETFs and more than $18 billion in AUM). The fund had $2.41 million in AUM as of yesterday.

The fund comes with an expense ratio of 50 basis points and tracks the Global X Metaverse Index. Global X Management Company LLC serves as the fund's administrator, investment advisor, and index provider. Global X's Kimberly Chan, William Helm, Sandy Lu, Nam To, Wayne Xie, and Vanessa Yang PM the fund.

"Global X is leveraging its expertisein thematic investing to provide investors exposure to companies that are positioned to benefitfrom the development and commercialization of the metaverse," Palandrani states.

The new fund's other service providers include: Brown Brothers Harriman & Co. (BBH) as custodian, securities lending agent, and transfer agent; Indxx, LLC as index administrator; PricewaterhouseCoopers LLP as independent accounting firm; SEI Investments Distribution Co. as distributor; SEI Investments Global Funds Services as sub-administrator; and Stradley Ronon Stevens & Young, LLP


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