A $61B-AUM Firm Debuts an Income-Focused Fund of Funds
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Thursday, November 03, 2022

A $61B-AUM Firm Debuts an Income-Focused Fund of Funds

A $60.8-billion-AUM (as of September 30), 67-year-old Gotham fund firm's team is rolling out an income-focused fund of funds.

David Schassler
Portfolio Manager, Head of Quantitative Investment Solutions
Today, David Schassler, portfolio manager and head of quantitative investment solutions at VanEck [profile], unveils the launch of the VanEck Dynamic High Income ETF (INC on the NYSE Arca, Inc.). The new fund's inception date was Tuesday, and as of yesterday it had about $500,000 in AUM.

INC is a series of the VanEck ETF Trust and comes with an expense ratio of 43 basis points. It is an actively managed, non-diversified ETF of ETFs that will primarily invest in other VanEck ETFs.

Van Eck Associates Corporation will serve as INC's administrator and investment advisor, while Van Eck Securities Corporation will serve as distributor. Schassler and John Lau, deputy portfolio manager, will PM the new fund.

Schassler puts the launch of INC in the context of "rising rates, global volatility and increased economic uncertainty."

"The search for yield can no longer be a static activity ... An active approach that seeks income across a wide range of fixed income and equity exposures will be a powerful tool for investors and advisors," Schassler states, describing INC as a fund that "offers a compelling, comprehensive, dynamic, risk-managed means of accessing and allocating among income generating assets."

The new fund's other service providers include: Dechert LLP as counsel; PricewaterhouseCoopers LLP as independent accounting firm; and State Street Bank and Trust Company as custodian, fund accountant, and transfer agent.

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