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, March 2, 2023 A 50-Year-Old Firm Enters the ETF Space Via Conversion A 50-year-old asset manager recently entered the ETF side of the business by converting a 16-year-old mutual fund.
The reorganization took effect on February 13, 2023, and the new ETF had $46.644 million in AUM as of yesterday. It comes with an expense ratio of 59 basis points (compared with 95 bps for the predecessor fund's institutional shares and 100 bps for the predecessor fund's investor shares). Like its predecessor, CAMX is a series of the Advisors' Inner Circle Fund. Cambiar serves as investment advisor to the new, actively managed ETF. Barish, who PMed the predecessor fund since its inception on August 31, 2007, now PMs CAMX. The fund uses a high-conviction, value-focused investment strategy. "The combination of increased tax efficiency and lower expenses, in conjunction with Cambiar's longsstanding price-sensitive investment discipline, results in an attractive proposition for investors looking to get greater exposure to high quality value businesses," Barish states, adding that the ETF is "an exciting satellite complement to any allocation model." The new ETF's other service providers include: Brown Brothers Harriman & Co. (BBH) as custodian and transfer agent; Ernst & Young, LLP as independent accounting firm; Morgan, Lewis & Bockius LLP as legal counsel; SEI Investments Distribution Co. as distributor; and SEI Investments Global Funds Services as administrator. Printed from: MFWire.com/story.asp?s=65655 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
