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 |
|
Tuesday, July 23, 2024 A 1,400-Fund Family Adds a Manufacturing ETF The team at a $3.86-trillion-AUM, 1,400-ETF shop is adding a passive fund focused on "the U.S. manufacturing renaissance."
MADE's inception date was July 17 (last Wednesday), and the ETF comes with an expense ratio of 40 basis points. As of yesterday, the fund had about $5 million in AUM. BlackRock Fund Advisors serves as investment advisor to MADE, and S&P Dow Jones Indices LLC serves as index provider. The fund is designed to track the S&P U.S. Manufacturing Select Index. The ETF's PM team includes: Jennifer Hsui, senior portfolio manager; Greg Savage, senior PM; and Paul Whitehead, managing director. Jacobs puts the launch of MADE in the context of "evolving trade relations and a call for enhancing supply chain resiliency [paving] the way for the concerted effort across the public and private sectors to reestablish the U.S. as a leader in manufacturing." "MADE is designed to capture these long-term themes by providing targeted access to companies that could be poised to benefit from supportive policies and secular trends, enabling investors to potentially capture the renaissance in American manufacturing in the convenience of an ETF," Jacobs states. MADE's other service providers include: BlackRock Institutional Trust Company, N.A. (BTC) as securities lending agent; BlackRock Investments, LLC (BRIL) as distributor; Citibank, N.A. as administrator, custodian, dividend disbursing agent, and transfer agent; JPMorgan Chase Bank, N.A. as custodian for securities lending; PricewaterhouseCoopers LLP as independent accounting firm; and Willkie Farr & Gallagher LLP as counsel. Printed from: MFWire.com/story.asp?s=67688 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
