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, January 6, 2023 A 68-Year-Old Firm Adds an Active Commodity ETF The team at a 68-year-old, $71.5-billion-AUM (as of November 30) mutual fund firm is rolling out an actively managed ETF designed to invest primarily in exchange-traded commodity futures contracts in agriculture, energy, industrial metals, livestock, and precious metals.
The new ETF's inception date was December 20, and it comes with an expense ratio of 55 basis points. As of yesterday, PIT had $19.4 million in AUM. Van Eck Absolute Return Advisers Corporation serves as PIT's investment advisor and administrator, and Van Eck Securities Corporation serves as distributor. Schassler and deputy portfolio manager John Lau will PM the fund. Schassler puts the launch of PIT in the context of hedging against inflation, "which remains at historically elevated levels." "We're excited to be launching PIT to offer investors and advisors an actively managed commodity strategy seeking to maximize return within a risk-controlled framework," Schassler states. PIT's other service providers include: Dechert LLP as counsel; PricewatershouseCoopers LLP as independent accounting firm; and State Street Bank and Trust Company as custodian, fund accountant, securities lending agent, and transfer agent. Printed from: MFWire.com/story.asp?s=65417 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
