A $3.5B-AUM Shop Adds a Natural Resources Fund
Neil Anderson, TheMutualFundWire.com
Excerpts taken from article:
The team at a $3.5B-AUM (as of July 31), Chicago-area fund firm is rolling out a passively managed ETF designed to invest in industries like timber, paper, mining, metals, energy, chemicals, and agriculture.
On Wednesday, Christian Magoon, CEO of Amplify Investments (dba Amplify ETFs), unveiled the launch of the Amplify Natural Resources Dividend Income ETF (NDIV on the NYSE Arca). The fund is a series of the Amplify ETF Trust and the fund’s inception date was Wednesday; as of today it has $645,000 in AUM.
Wheaton, Illinois-based Amplify Investments LLC serves as the new fund’s investment advisor. Toroso Investments LLC serves as the fund’s subadvisor, and Charles Ragauss (head of trading at Toroso) serve as the fund’s PMs. The fund is designed to track the EQM Natural Resources Dividend Income Index (NDIVITR), and EQM Indexes LLC is the index provider.