MutualFundWire.com: Pacer Raises a 10th Cash Cow

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Tuesday, March 26, 2024

Pacer Raises a 10th Cash Cow

The team at a 47-ETF, $41-billion-AUM (as of March 19), Keystone State fund firm is adding a tenth fund to a $34-billion-AUM suite.

Sean Edward O'Hara
Pacer ETFs Distributors / Pacer Financial
President / Director

Last week, Sean O'Hara, president of Pacer ETF Distributors [profile], and Joe Thomson, president of Pacer Financial, unveiled the launch of the Pacer Developed Markets Cash Cows Growth Leaders ETF (EAFG on the NYSE Arca, Inc.). The new, passively managed ETF is a series of Pacer Funds Trust.

EAFG's inception date was March 20, and it comes with an expense ratio of 65 basis points. The new fund has about $1 million in AUM, as of yesterday.

Pacer affiliate Index Design Group serves as EAFG's index provider and Pacer Advisors, Inc. serves as investment advisor. EAFG's PM team includes: Bruce Kavanaugh, vice president at Pacer; and Danke Wang, head portfolio analyst and portfolio manager.

EAFG is designed to track the Pacer Developed Markets Cash Cows Growth Leaders Index, and the initial universe for that index is derived from component companies of the MSCI EAFE Index. The Pacer team notes that this the new fund is the first from Pacer that screens equity names using an index from MSCI.

"The launch of EAFG not only marks the latest expansion of our most successful series, but also represents a significant milestone as our first collaboration with index provider MSCI," Thomson states, putting the launch in the context of the Pacer team's continuing efforts "to strengthen ... partnerships and innovate ... product offerings to address the changing dynamics of markets and help investors meet their portfolio goals."

"Launching EAFG aims to provide investors with a novel growth opportunity that's designed to navigate the current global landscape while leveraging names in developed markets beyond our borders," O'Hara states. "This addition to our product lineup underscores our firm's commitment to delivering diversified and impactful solutions with investors' goals in mind. We have found strategically screening companies with the highest free cash flow margin over time may produce higher current and future sales and earnings growth."

EAFG's other service providers include: Pacer Financial, Inc. as distributor; Practus, LLP as counsel; Sanville & Company as independent accounting firm; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator, fund accountant, index receipt agent, and transfer agent; and U.S. Bank National Association as custodian and secuities lending agent.

Printed from: MFWire.com/story.asp?s=67214

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