MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, June 6, 2023 A Re-Tickered Thematic ETF Reaches One Year The team at a Keystone State fund firm is celebrating the paper anniversary of a freshly re-tickered thematic index fund.
The milestone comes less than four months after the ProcureAM, LLC team switched FIXT away from its old ticker, FEMA, on February 15. The fund initially debuted on June 1, 2022. Andrew Chanin, CEO of Levittown, Pennsylvania-based ProcureAM, argues that investors often overlook "the importance of natural disaster risk mitigation and recovery." "FIXT provides an opportunity for investors to support and make critical investments in the many companies around the global protecting us from natural disasters and helping communities rebuild in their aftermath," Chanin states. FIXT is a series of the Procure ETF Trust II. The fund comes with an expense ratio of 75 basis points (which includes 488 bps in fee reductions and expense reimbursements promised through February 29, 2024). The one-year-old, passive fund tracks the VettaFi Natural Disaster Recovery Index. GKD Index Partners, LLC (dba Alerian) serves as FIXT's index provider, ProcureAM as investment advisor, and Penserra Capital Management LLC as subadvisor. The fund's PM team includes: Anand Desai, senior vice president at Penserra; Dustin Lewellyn, chief investment officer at Penserra; and Ernesto Tong, managing director at Penserra. FIXT's other service providers include: Cipperman Compliance Services (CCS) as CCO provider; Cohen & Company Ltd. as independent accountant; K&L Gates LLP as counsel; Quasar Distributors LLC as distributors; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator and transfer agent; and U.S. Bank, National Association as custodian and securities lending agent. Printed from: MFWire.com/story.asp?s=66055 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
