Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:An $11.4B-AUM Boutique Enters the ETF Biz Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 4, 2021

An $11.4B-AUM Boutique Enters the ETF Biz

Reported by Neil Anderson, Managing Editor

An $11.4 billion-AUM boutique asset manager in Illinois is entering the active ETF business, with the help of its publicly traded parent.

David Dean Grumhaus, Jr.
Duff & Phelps Investment Management Co.
President, Chief Investment Officer
Today David Grumhaus, Jr., president and chief investment officer of Duff & Phelps Investment Management Co., and Bill Smalley, executive managing director of Virtus ETF Solutions, confirm the launch of the first Duff & Phelps-powered ETF: an actively managed, thematic equity fund called the Virtus Duff & Phelps Clean Every ETF (ticker VCLN on the NYSE). The new fund is advised by Virtus ETF Advisers LLC and subadvised by Chicago-based Duff & Phelps (which specializes in energy, infrastructure, and real estate investing and is a subsidiary of Hartford-based Virtus Investment Partners, Inc. [profile]).

The new ETF comes with an expense ratio of 59 basis points, thanks in part to a seven-bps fee waiver from Virtus. The waiver is scheduled to last at least through July 19, 2022.

Benjamin Bielawski and Eric Fogarty, managing directors at Duff & Phelps, PM the new fund. Service providers to the fund include: BNY Mellon (as accounting administrator, custodian, dividend paying agent, and transfer agent); Pricewaterhouse Coopers LLP (as independent accounting firm); Stradley Ronon Stevens & Young, LLP (as legal counsel); and Virtus' VP Distributors, LLC (as distributor).

Grumhaus puts the launch of the ETF in the context of "a major shift" he sees beginning in the energy and power sectors. Smalley lauds Duff & Phelps for its "rigorous investment process around energy infrastructure and clean energy" and describes the new fund as "a compelling, thematic equity strategy for the Virtus ETF suite." 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use