MutualFundWire.com: A $588.5B-AUM AM Launches Its First 3 US ETFs

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Thursday, December 7, 2023

A $588.5B-AUM AM Launches Its First 3 US ETFs

The team at a $588.5-billion-AUM (as of September 30), publicly traded, multinational asset manager has officially entered the U.S. ETF business.

Shawn K. Lytle
Macquarie Group / Macquarie Investment Management / Delaware Funds
U.S. Country Head / Global Head / President

Last week, the folks at Macquarie Asset Management [profile] launched their first three U.S. ETFs: the Macquarie Global Listed Infrastructure ETF (BILD on the NYSE Arca, Inc.), the Macquarie Energy Transition ETF (PWER), and the Macquarie Tax-Free USA Short-Term ETF (STAX). All three new ETFs are actively managed series of the Macquarie ETF Trust, and none use its usual U.S. mutual fund brand: Delaware Funds by Macquarie.

The new ETFs' inception date was November 28. STAX has an expense ratio of 29 basis points, and as of market close yesterday it had $5 million in AUM. PWER's expense ratio is 79bps, and its AUM at end-of-day yesterday was $5.1 million. BILD's expense ratio is 49bps, and its EOD AUM yesterday was $5.1 million.

Delaware Management Company (a series of Macquarie Investment Management Business Trust) serves as investment advisor to all three new funds, and Macquarie Investment Management Global Limited (MIMGL) serves as subadvisor to BILD and PWER.

BILD's PM team includes: Anthony Felton, senior portfolio manager, global listed infrastructure securities at Delaware; and Brad Frishberg, chief investment officer and senior PM, global listed infrastructure securities.

PWER's PM team includes: Samuel Halpert, division director, CIO, and senior PM, global natural resources equity at Delaware; and Geoffrey King, associate director, senior vice president, and PM, global natural resources equity.

STAX's PM team includes: Stephen Czepiel, managing director, head of municipal bonds portfolio management, and senior PM at Delaware; Gregory Gizzi, managing director, head of U.S. fixed income, head of muni bonds, senior PM; and William Roach, VP, senior muni trader, and PM.

The new ETFs' other service providers include: ACA's Foreside Financial Services, LLC as distributor; JPMorgan Chase Bank, N.A. as custodian, fund accountant, and transfer agent; PricewaterhouseCoopers LLP as independent accounting firm; and Stradley Ronon Stevens & Young LLP as counsel.

Printed from: MFWire.com/story.asp?s=66783

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