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KraneShares and Rockefeller Asset Management Launch Ocean Engagement ETF (KSEA), Expanding Innovative Climate Investment Lineup
September 12, 2023--Rockefeller Asset Management (Rockefeller), the asset management arm of Rockefeller Capital Management, and KraneShares, a leading global ETF provider specializing in China, climate, and uncorrelated assets, today launched the KraneShares Rockefeller Ocean Engagement ETF (ticker: KSEA).
The fund invests in public companies with significant impact on oceans and ocean resources, reflecting the meaningful investment opportunities within the blue economy, a subset of the ocean economy focused on solutions that are sustainable, and have ocean-positive benefits.
KSEA aims to generate competitive returns and improve ocean health through shareholder engagement activity focused on pollution prevention, carbon transition, and ocean conservation.
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Source: KraneShares
CBO-Monthly Budget Review: August 2023
September 11, 2023--Summary
The federal budget deficit was $1.5 trillion in the first 11 months of fiscal year 2023, the Congressional Budget Office estimates-$0.6 trillion more than the shortfall recorded during the same period last year.
Revenues were 10 percent lower and outlays were 3 percent higher from October through August than they were during the same period in fiscal year 2022.
Outlays in fiscal year 2023 were reduced by the shifting of certain payments-totaling $63 billion-from October 1, 2022 (the first day of fiscal year 2023), into fiscal year 2022 because October 1 fell on a weekend. If not for those shifts, the deficit through August would have been $1.6 trillion.
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Source: CBO (Congressional Budget Office)
VanEck Announces Changes to ETF Product Line-VanEck China Growth Leaders ETF
September 8, 2023--VanEck announced today that it plans to close and liquidate one of its VanEck ETFs.
On September 7, 2023, the Board of Trustees of VanEck ETF Trust approved the liquidation and dissolution of the following fund (the "Fund"):
ETF Name: VanEck China Growth Leaders ETF
Ticker: GLCN
Exchange: NYSE Arca
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Source: VanEck
KraneShares Global Luxury Index ETF (Ticker: KLXY) Lists On NYSE
September 7, 2023--Krane Funds Advisors, LLC ("KraneShares"), an asset management firm known for its global exchange-traded funds (ETFs) and innovative investment strategies, today announced the launch of the KraneShares Global Luxury Index ETF (Ticker: KLXY) on the New York Stock Exchange.
KLXY provides investors with exposure to the world's top luxury companies by market capitalization across an array of luxury-related sectors such as leather goods, jewelry, accessories, skincare, cosmetics, beverages, travel, and supercar businesses.
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Source: KraneShares
ETF shop founded by Vivek Ramaswamy tops $1bn in assets
September 7, 2023--Strive Asset Management crossed the threshold around a year after launching first ETF
Strive Asset Management, the activist ETF shop founded by Republican presidential candidate Vivek Ramaswamy, crossed the $1bn in assets under management marker on September 1, roughly one year after launching its first ETF, the company announced.
The largest of the firm's 11 ETFs, its flagship $362mn US Energy ETF, attracted $18mn in net inflows during the year ended August 31, according to data from Morningstar Direct.
The fund was launched with $1mn in assets.
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Source: ft.com
GraniteShares Appoints Paul Marino as Chief Revenue Officer
September 6, 2023--Industry veteran to drive global business development efforts for core ETFs and single-stock ETPs
GraniteShares, the U.S. ETF issuer, is pleased to announce the appointment of Paul Marino as Chief Revenue Officer (CRO).
Marino brings with him 23 years of expertise in sales, strategy and business development in the financial services industry.
In his new role as CRO, Marino will oversee all aspects of marketing, business development, and sales across GraniteShares' core ETFs and single-stock exchange-traded products (ETPs). Collaborating closely with Founder and CEO Will Rhind as well as the Executive Leadership Team, Marino will be pivotal in spearheading the company's global sales and business development initiatives.
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Source: GraniteShares
Madison Investments Unveils MSTI, Latest Addition to Actively-Managed ETF Suite
September 6, 2023--Fourth Fund in the Suite Reinforces Commitment to Dynamic Fixed-Income Solutions
Madison Investments, an independently-owned investment firm managing $22.9 billion in assets, today announces the launch of the Madison Short Term Strategic Income ETF (NYSE: MSTI), the fourth addition to its suite of actively-managed, income-driven exchange-traded funds (ETFs).
This expansion follows the launch of the suite's first fixed income fund, the Madison Aggregate Bond ETF (NYSE: MAGG), which launched last week. Each ETF in the suite utilizes a dedicated investment process designed to help investors pursue income and capital appreciation through institutional-caliber, risk-controlled investment strategies.
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Source: Madison Investments
iM Global Partner and Polen Capital Launch Polen's First Exchange Traded Fund
September 6, 2023--iM Global Partner (iMGP) and Polen Capital (Polen) have partnered to launch Polen's first actively managed, fully transparent exchange-traded fund (ETF) on August 30.
The Polen Capital Global Growth ETF (NYSE: PCGG) responds to growing client demand and marks the initial offering in a planned suite of ETFs set to debut in 2024.
"This partnership combines the power of Polen's investment expertise in active management, coupled with iM Global Partner's distribution capabilities through its US ETF Platform," said Jeff Seeley, CEO of iM Global Partner Fund Management.
iMGP will be the investment advisor for the Polen Global Growth ETF, while Polen will serve as the subadvisor.
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Source: iM Global Partner
Secretive active ETFs lose out to their fully transparent rivals
September 5, 2023--The portfolio-shielding models had a strong start when they were approved in 2019, but have failed to gain traction
Secretive exchange traded funds that hide what they are holding from potential investors appear to be falling out of favour.
US regulators approved semi-and non-transparent ETFs in 2019, paving the way for the structure to depart from the tried-and-trusted model where ETFs reveal their full portfolio publicly every day.
The new "portfolio-shielding" models were expected to encourage actively managed funds to enter the ETF market, something many active managers had been reluctant to do because they feared daily holdings disclosures would reveal their "secret sauce", allowing other investors to front-run their funds and steal their intellectual property.
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Source: ft.com
Strive Surpasses $1 Billion AUM in 1 Year, Solidifying Its Status as One of the Fastest Growing ETF Issuers
September 5, 2023--Strive Asset Management ("Strive"), whose mission is to maximize shareholder value by leading companies to focus on excellence, crossed one billion dollars in assets under management (AUM) one year after the launch of its first fund.
This comes on the heels of Strive ranking as the fastest growing asset manager in the country out of over 500 firms with less than $1 billion in assets in June.
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Source: Strive Asset Management
