Milwaukee-based U.S. Bancorp Fund Services, LLC has added an exchange traded fund to its ETF Series Solution multiple series trust.
The Vident Financial ETF, called Vident Core U.S. Equity, launched on Jan. 22 and includes 500 securities. Its principal-based investment approach evaluates company risk factors, especially expense recognition, financial reporting and corporate governance.
“We are grateful to the team at U.S. Bancorp Fund Services for helping make the Vident Core U.S. Equity Fund launch a resounding success. Their attention to detail and client orientation made a complicated endeavor go smoothly,” said Nick Stonestreet, Vident chief executive officer.
ESS, U.S. Bancorp Fund Services’ fifth multiple series trust, was launched in February 2012. Vident’s first U.S. Bancorp fund, Vident International Equity Fund, was started in October and has $515 million in assets under management.
“We are excited to add another Vident Financial fund to our growing MST, allowing shareholders the opportunity to invest in these products. We believe our MST model provides managers with the opportunity to leverage our administration services so they can focus on investing, while capitalizing on developments in the market,” said Joe Redwine, president of U.S. Bancorp Fund Services.
