MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, July 13, 2023 An $870B-AUM Firm Adds Its 30th ETF The folks at a publicly traded brokerage's $870.2-billion-AUM (as of March 31) asset management arm are rolling out their 30th ETF, which is also their ninth bond ETF.
SCYB is an index fund (aka a passively managed fund) and a series of the Schwab Strategic Trust. As of yesterday, the fund held about $25.3 million in AUM. The fund comes with an expense ratio of 10 basis points. The new fund is designed to track the ICE BofA US Cash Pay High Yield Constrained Index, and ICE Data Indices, LLC serves as index provider. Schwab AM serves as SCYB's investment advisor, and the fund's PM team includes: Matthew Hastings, managing director and head of taxable bond strategies; Ryan Hook, senior portfolio manager; and Steven Hung, senior portfolio manager. Bogan notes that the launch comes as "bond yields are attractive." "We believe that, over the long-term, investors desire a low-cost, index-based approach to income, diversification and risk management in their portfolios," Bogan states, describing SCYB as "a timely addition" to Schwab AM's fixed income ETF lineup. The new fund's other service providers include: Deloitte & Touche LLP as independent accounting firm; SEI Investments Distribution Co. as distributor; and State Street Bank and Trust Company as accountant, custodian, and transfer agent. Printed from: MFWire.com/story.asp?s=66194 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
