An 8th Fund Joins a $13B-AUM Suite
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Thursday, January 5, 2023

An 8th Fund Joins a $13B-AUM Suite

A $19.3-billion-AUM (as of December 20, 2022) fund firm recently added an eighth fund to a $13.1-billion-AUM (as of January 4, 2023) suite of ETFs.

Sean Edward O'Hara
Pacer ETFs Distributors / Pacer Financial
President / Director
On December 22, Sean O'Hara, president of Pacer ETFs Distributors, and Joe Thomson, president of Pacer Financial, Inc., unveiled the launch of the Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG on the Nasdaq). The new, passively managed fund is a series of the Pacer Funds Trust, and its inception date was December 21.

COWG comes with an expense ratio of 49 basis points. As of yesterday, the new fund had $1.481 million in AUM.

COWG is designed to track the Pacer US Large Cap Cash Cows Growth Leaders Index, which targets large-cap U.S. companies with above average free cash flow margins. Index Design Group (a Pacer affiliate) serves as the new fund's index provider, Pacer Advisors, Inc. [profile] serves as investment advisor, and Pacer Financial as distributor. Bruce Kavanaugh, vice president at Pacer, and Danke Wang, portfolio manager, are PMing the new fund.

The launch of COWG expands the Pacer Cash Cows Index ETF Series to eight funds in total and boosts Pacer's overall fund count to 45.

Thomson describes COWG's launch "as a testament to the expanding market demand for this type of investment strategy, which had an exceptional year of performance and asset gathering."

"In 2022, investors that favored free cash flow yield, like in the Cash Cow series, may have fared well despite rising inflation and persistently volatile market conditions," O'Hara states. "We created COWG to deliver a new opportunity for investors that may provide a more growth-oriented strategy focusing on free cash flow margin."

The new fund's other service providers include: Practus, LLP as counsel; Sanville & Company as independent accounting firm; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator, fund accountant, index receipt agent, and transfer agent; and U.S. Bank National Association as custodian and securities lending agent.

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