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The insiders' edge for 40 Act industry executives!
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Thursday, July 11, 2024 A $25B-AUM AM Teams Up For a $310.5MM-AUM Launch The folks at a back-office giant's $24.96-billion-AUM (as of June 30) asset management arm are teaming up to launch a commodity ETF. This morning, Laton Spahr, president of SS&C Alps Advisors [profile], and Bradford Klein, co-founder of CoreCommodity Management, LLC, unveiled the launch of the Alps | CoreCommodity Natural Resources ETF (CCNR on the Nasdaq). The new, actively managed fund is a series of Financial Investors Trust. CCNR's inception date was yesterday, and it already has $310.5 million in AUM. The new ETF comes with an expense ratio fo 39 basis points. Alps serves as investment advisor to CCNR, while CoreCommodity Management serves as subadvisor. The new fund's PM team includes: Douglas Daly, managing director at CoreCommodity; and Nelson Louie, senior managing director at CoreCommodity. Spahr describes the new offering as a "commodity-oriented equity ETF," one that "offers a strategic gateway to global economic shifts and natural resource dynamics, providing investors with a potential hedge against inflation and participation in equity returns." "CCNR offers access to natural resources equities and is actively managed in an ETF wrapper to capture commodity growth opportunities," Spahr states. "CCNR will allow ETF investors for the first time to directly access our actively managed, pure play global natural resource equity strategy," Klein states. "We are pleased to broaden our partnership with SS&C ALPS Advisors and to expand our business of partnering with investment firms to provide differentiated commodity and natural resources solutions." CCNR's other service providers include: Alps Fund Services, Inc. as administrator and fund accounting agent; Alps Portfolio Solutions Distributors, Inc. as distributor; Cohen & Company, Ltd.Davis Graham & Stubbs LLP as counsel; and State Street Bank and Trust Company as custodian, securities lending agent, and transfer agent. Printed from: MFWire.com/story.asp?s=67640 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |