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, November 5, 2024 With $700MM, a $16B-AUS Insti AM Adds a 5th ETF The folks at a $16.3-billion-AUS (as of September 30) institutional asset manager in Gotham are rolling out their fifth active ETF, three months after entering the space. The new fund is already their second biggest ETF yet. Last week (on October 28), Casey Clark, president and chief investment officer of Rockefeller & Co. LLC's Rockefeller Asset Management (RAM), and Michael Seo, managing director and portfolio manager at RAM, unveiled the launch of the Rockefeller Global Equity ETF (RGEF on the NYSE Arca). RAM serves as subadvisor and sponsor of the new ETF, while Tidal Investments LLC [profile] serves as investment advisor. RGEF's inception date was October 25, and it comes with an expense ratio of 55 basis points. As of yesterday (Monday, November 4), the new fund had $698.68 million in AUM. Seo, a 25-year RAM veteran, will PM RGEF. The new ETF, RAM's second stock-focused ETF, is an actively managed, non-diversified series of Tidal Trust III. It is designed to be similar to RAM's global equity strategy, which first debuted in 1991. "Building on Rockefeller’s over 30-year history in global investing, we are excited to expand on our suite of actively managed ETF solutions and provide a broad range of investors with access to our deeply experienced investment team and extensive legacy in this area of the market," Clark states. "Through RGEF, we see a significant opportunity to provide investors with access to a diverse array of leaders and innovators poised for sustainable growth as we seek to deliver alpha and capitalize on opportunities across the global market through our bottom-up, active approach," Seo states. The launch of RGEF follows RAM's August launch of the New York City-based firm's first three ETFs, all muni bond funds: the Rockefeller California Municipal Bond ETF (RMCA), the Rockefeller New York Municipal Bond ETF (RMNY), and the Rockfeller Opportunistic Municipal Bond ETF (RMOP). RGEF's debut also comes 15 days after the launch of RAM's first equity ETF, the Rockefeller U.S. Small-Mid Cap ETF (RSMC). As of yesterday, those first four RAM ETFs had a combined $836.56 million in AUM: $724.7 million in RSMC, $94.41 million in RMOP, $14.94 million in RMCA, and $2.51 million in RMNY. RGEF's other service providers include: Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; Sullivan & Worcester LLP as counsel; Tidal ETF Services LLC as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as fund accountant and transfer agent; and U.S. Bank National Assocation as custodian. Printed from: MFWire.com/story.asp?s=68130 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |