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 |
|
Thursday, December 12, 2024 Roberge Brings a 100YO Giant to ETF World Mike Roberge and his team are bringing the original U.S. open-end mutual fund firm into the ETF side of the business. The folks at the 100-year-old, $626.6-billion-AUM (as of October 31) asset manager made their first five exchange-traded fund moves last week.
The commencement date for MFSV, MFSI, MFSM, MFSG, and MFSB was December 5. MFSB and MFSM come with expense ratios of 34 basis points, MFSV's expense ratio is 44bps, MFSG's expense ratio is 49bps, and MFSI's expense ratio is 59bps. As of yesterday (December 11), MFSB had $27.43 million in AUM, MFSG had $27.11 million, MFSM had $25.6 million, MFSI had $25.1 million, and MFSV had $25 million. Philipp Burgener and Joshua Marston will serve as portfolio managers for MFSB. MFSG's PM team will include: Eric Fischman, Laura Granger, and Bradford Mak. MFSM's PM team will include: Jason Kosty, Megan Poplowski, and Daniel Streppa. MFSI's PM team will include: Filipe Benzinho, Brett Fleishman, Daniel Ling, Jed Stocks, and Chris Sunderland. And MFSV's PM team will include: Katherine Cannan, Nevin Chitkara, Thomas Crowley, and Kate Mead. Roberge puts MFS' quintuple ETF move in the context of the firm having "continually evolved" over the past 100 years. The five funds "offer this next level of vehicle," he says. "These new active ETFs are an exciting next step in that journey. They bring the firm's capabilities to this market for the first time," Roberge states. "The ETFs give investors greater choice, allowing them to access MFS' investment capabilities across five popular investment categories: US Value, US Growth, International Equity, US Core Plus and Intermediate Muni Bond." "These new active ETFs complement our existing lines of mutual funds, retail separately managed accounts and other investment vehicles and provide significant choice for investors building long-term, diversified portfolios," Roberge adds. The MFS team also clarifies that their initial five ETFs are powered by "distinct, fully transparent portfolios, disclosing holdings daily." (Open-end mutual funds disclose their holdings less frequently, as do some active ETFs.) MFSV, MFSI, MFSM, MFSG, and MFSB are series of the MFS Active Exchange Traded Funds Trust. The new funds' other service providers include: Ernst & Young LLP as independent accounting firm; MFS Fund Distributors, Inc. (MFD) as distributor; Ropes & Gray LLP as counsel; and State Street Bank and Trust Company as custodian, dividend disbursing agent, and transfer agent. Printed from: MFWire.com/story.asp?s=68286 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
