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Rating:With Three Launches, a $10B-AUS Boutique Enters ESG Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, March 30, 2022

With Three Launches, a $10B-AUS Boutique Enters ESG

Reported by Neil Anderson, Managing Editor

A three-year-old, $10-billion-AUS boutique within a Midwestern mutual fund firm is entering the ESG space with three new active funds.

Eduardo A. Repetto
Avantis Investors
Chief Investment Officer
Today, Eduardo Repetto, chief investment officer of American Century's [profile] Avantis Investors arm, unveiled the boutique's first three ESG ETFs: the Avantis Responsible U.S. Equity ETF (AVSU on the NYSE Arca); the Avantis Responsible International Equity ETF (AVSD); and the Avantis Responsible Emerging Markets Equity ETF (AVSE). The launches boost Avantis' total fund count to 24 (including 16 ETFs).

AVSU, which launched on March 15, had $1.637 million in AUM as of yesterday. AVSD, which also launched on March 15, had $2.7 million in AUM as of yesterday. And AVSE, which launched on March 28 (i.e. Monday), had $2.505 million in AUM as of yesterday. AVSU comes with an expense ratio of 15 basis points, while AVSD's expense ratio is 23 bps and AVSE's is 33 bps.

Each of the three new ETFs is a series of the American Century ETF Trust. American Century Investment Management, Inc. serves as the funds' investment advisor, and they're each PMed by the same five-person team: Matthew Dubin, Mitchell Firestein, Daniel Ong, Ted Randall, and Repetto himself. (Dubin is an associate portfolio manager at Avantis, while Firestein, Ong, and Randall are senior portfolio managers.)

"We are excited to provide three new broadly diversified, tax-efficient ETFs to allow investors to make sustainable investments — socially and environmentally conscious investments," Repetto states. "We have priced these strategies in line with our conventional equity ETFs because we think that investors hoping to incorporate their ESG considerations into their investment portfolios should not have to endure higher fees."

The new funds' other service providers include: American Century Services, LLC (ACS) as administrator; Deloitte & Touche LLP as independent accounting firm; Foreside Fund Services, LLC as distributor; and State Street Bank and Trust Company as custodian, securities lending agent, sub-administrator, and transfer agent. 

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