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 |
|
Wednesday, March 15, 2023 A $196B-AUMS Firm Adds an Inflation Sensitive Fund The team at a $196-billion-AUMS (as of February 28) asset manager is rolling out an inflation sensitive index fund.
FTIF's inception date was Monday, and as of yesterday it had about $991,000 in AUM. The new fund comes with an expense ratio of 60 basis points. FTIF is designed to track the Bloomberg Inflation Sensitive Equity Index. First Trust serves as the new fund's investment advisor and fund reporting agent, Bloomberg Index Services Limited serves as index provider, and First Trust Portfolios L.P. serves as distributor. FTIF is PMed by a seven-person investment committee: Jon Erickson, senior vice president; Daniel Lindquist, managing director and chairman of the committee; David McGarel, chief investment officer, chief operating officer, and managing director; Chris Peterson, SVP; Erik Russo, VP; Roger Testin, SVP; and Stan Ueland, SVP. Issakainen puts the launch of FTIF in the context of the current market environment. "High inflation is one of the most important challenges that investors are facing in 2023," Issakainen states. "High quality stocks from sectors that have historically benefitted from rising prices may help investors navigate this environment." Dave Gedeon, head of index product at Bloomberg Index Services Limited, puts the launch of FTIF in the context of Bloomberg's focus "on building indices seeking to solve modern day investment problems." "Bloomberg is excited to work with First Trust on an index for an ETF which utilizes a factor approach to target companies which may be better positioned to weather the challenge of persistent inflationary pressures," Gedeon states. FTIF's other service providers include: Bank of New York Mellon as administrator, custodian, fund accounting agent, and transfer agent; Chapman and Cutler LLP as counsel; and Deloitte & Touche LLP as independent accounting firm. Printed from: MFWire.com/story.asp?s=65711 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
