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Monday, October 24, 2016

I'll Drink To That!

Reported by Ashley McHugh-Chiappone

Last week, Spirited Funds and the ETF Managers Group launched the The Spirited Funds/ETFMG Whiskey & Spirits ETF, aimed at tracking the performance of companies involved in the production, distillation and storage of the fast-growing whiskey and brown distilled liquor industry.

David Bolton
Spirited Funds, LLC
President, Chief Executive Officer
"In doing research [on the whiskey industry], no other ETF globally has a direct focus on the whiskey, spirits and brown distilled liquor industry," David Bolton, president and CEO stated. The Kentucky native also added that he "just happened to like it [whiskey] a lot."

Spirited Funds aims to create indexes and ETFs that track the performance of companies that participate in the production, distribution, and consumption of the following industries: liquor and spirits, beer, and tobacco.

ETF Managers Group is an ETF private label issuer with a diverse portfolio. They strive to bring thematic concepts to fruition, providing a fully managed, all-inclusive method for all ETF types.

ALPS Distributors, Inc. is the distributor for the fund. U.S. Bancorp Fund Services, LLC is the transfer agent and custodian for the fund. Sullivan & Worcester LLP serves as legal counsel to the fund.

According to the Distilled Spirit Council, in 2015, the total retail sales of distilled spirits in the US market reached almost $72 billion. The whiskey industry alone rose 8 percent this past year.

 

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