MutualFundWire.com: $54B In 5 Years

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Tuesday, September 24, 2024

$54B In 5 Years

The team at a Southern California boutique is celebrating a big birthday for their shop, which is part of a Midwestern fund firm.

Eduardo A. Repetto
Avantis Investors
Chief Investment Officer

Last Tuesday (September 17) was the fifth anniversary of the launch of Avantis Investors' first offering, a spokesperson for Avantis parent American Century [profile] confirms. That first ETF, AVEM, debuted on September 17, 2019 and has since grown to $6.6 billion in AUM. (Today is the fifth birthday of Avantis' second, third, fourth, and fifth strategies.) Gaining a five-year track record can be a key distribution milestone for investment products, as many due diligence screens exclude younger products.

"Thank you to all of our clients for the tremendous support," Eduardo Repetto, chief investment officer of Avantis, writes in a LinkedIn post. "You've made these last five years truly remarkable!"

As of last Thursday (September 19), Avantis had grown to $54 billion in AUM. (It's been less than 11 months since the boutique crossed the $30-billion-AUM mark last November and two months since Avantis reached $50 billion.) The spokesperson confirms that Avantis now offers 28 strategies (nine as both traditional open-end mutual funds and ETFs, and the rest only as ETFs), in addition to custom SMAs.

"We have plans to launch 2 more ETFs in the near future," the spokesperson tells MFWire via email. "Additionally, we have announced plans to launch Irish-based UCITS ETFs later this year."

Los Angeles-based Avantis-based now has a team of more than 40 people within Kansas City-based American Century, the spokesperson confirms, and they support more than 3,500 Avantis clients.

"As a business, Avantis receives a lot of support from many individuals and groups inside of American Century, such as IT, HR, Legal, Compliance, etc. and we think this partnership has worked extremely well," the spokesperson writes.

Printed from: MFWire.com/story.asp?s=67945

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