New Fund Focuses on Infrastructure MLPs ..…
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Exchange Traded Concepts, LLC (“ETC”) announces that the Yorkville High Income Infrastructure MLP ETF (NYSE: YMLI) has become the fifth exchange-traded fund to begin trading through the firm’s private-label ETF platform in less than 12 months.
Yorkville ETF Advisors, LLC (“Yorkville”), the investment sub-adviser to YMLI, became one of the earliest sponsors to file for ETF registration utilizing ETC’s ETF-in-a-Box™ turnkey solution. Their first fund, YMLP, was one of the top asset-gathering funds in the United States in 2012. Launched in March of 2012, YMLP currently has garnered $135 million in new assets.
“The success we’ve had with the first Yorkville fund has proven that the ETC platform can quickly and efficiently bring products to market to meet demand from investors,” says J. Garrett Stevens, CEO of Exchange Traded Concepts, LLC. “We have enjoyed working with the team at Yorkville and are excited to help them bring this new fund to market.”
“With our first fund launch, ETC proved they would do exactly what they promised,” says Darren Schuringa, co-founder of Yorkville ETF Advisors and portfolio manager at Yorkville. “ETC’s expertise in the ETF world has been proven over the last 11 months and we have complete confidence that this new fund will operate as smoothly as our first.”
YMLI seeks to track, before fees and expenses, the Solactive High Income Infrastructure MLP Index. The equal weight index is a rules-based benchmark designed to provide investors a means of tracking the performance of selected infrastructure Master Limited Partnerships (“MLPs”) publically traded in the United States. Index constituents are determined by three criteria: Current Yield, Coverage Ratio and Distribution Growth
Exchange Traded Concepts, LLC serves as investment adviser to YMLI, with Yorkville ETF Advisors, LLC and Index Management Solutions, LLC serving as sub-advisers.
Source: ETFWorld – Exchange Traded Concepts
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