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Rating:Five Active Equity ETFs and Counting At a $1.59T-AUM AM Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, June 9, 2021

Five Active Equity ETFs and Counting At a $1.59T-AUM AM

Reported by Neil Anderson, Managing Editor

The team at a publicly traded fund firm with $1.59 trillion in AUM (as of April 30) is rolling out their fifth active ETF.

Today Ann Holcomb, director of research for North America at T. Rowe Price [profile], and Tim Coyne, head of ETFs, unveiled the new T. Rowe Price U.S. Equity Research ETF (ticker: TSPA on the NYSE Arca). The active, translucent ETF launched today.

The new ETF is similar to the existing T. Rowe Price U.S. Equity Research Fund and is PMed by Holcomb, Joshua Nelson, Jason Benjamin Polun, and Thomas Watson. The expense ratio is 34 basis points. Like T. Rowe's first active ETFs, the new one is powered by T. Rowe's proprietary approach to an active translucent (more called active non-transparent, i.e. ANT) ETF structure.

State Street Bank and Trust Company is the new ETF's custodian, securities lending agent, systems vendor, and transfer agent, and State Street also handles fund accounting. Pricewaterhouse Coopers serves as the ETF's independent accounting firm. BNY Mellon provides middle office support. Pricing vendors include Bloomberg Finance, ICE Data Services, and Refinitiv. Linedata serves as fund accounting oversight platform vendor. Systems vendors include Broadridge (also mailing and printing vendor), DTCC Derivatives Repository, and FactSect. Linedata serves as fund accounting oversight platform vendor. The INAV calculation agent is ICE Data Indices. Iron Mountain serves as records management vendor. ISS serves as proxy and systems vendor. And MSCI (with affiliates) serves as investment risk and liquidity analytics provider.

Holcomb describes the new ETF as a possible "core building block for many equity portfolios." And Coyne puts the launch in the context of T. Rowe's "long-term plan to build a robust active ETF suite that continues to deliver increased investment choice for clients."  

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