iM Global Partner and Polen Capital on Wednesday announced the launch of the Polen Capital Global Growth ETF, the initial offering in a planned suite of Polen-branded ETFs, a Polen spokesman said.
The actively managed, fully transparent ETF launched on Aug. 30. iM Global Partner Fund Management, whose ultimate parent company is iM Global Partner, is the new ETF's investment adviser, while Polen Capital serves as subadviser, an Aug. 22 prospectus shows.
"This partnership combines the power of Polen's investment expertise in active management, coupled with iM Global Partner's distribution capabilities through its US ETF Platform," said Jeff Seeley, CEO of iM Global Partner Fund Management, in a news release Wednesday.
"This ETF is the first of a series of ETFs that iMGPFM and Polen Capital will bring to market," Mr. Seeley said in an email to Pensions & Investments Wednesday.
iM Global Partner, a global asset management network with minority interests in nine investment partners – one of which is Polen Capital – had assets under management totaling $39 billion as of July 31, Mr. Seeley said. Polen Capital, a global investment management firm providing growth and income investment strategies to a range of institutional and individual clients, had assets under management totaling $64 billion as of June 30, the Polen spokesman said.
Polen Capital has managed accounts using a strategy similar to that of the Polen Capital Global Growth ETF since 2014, the release said. The ETF, which has an expense ratio of 0.85%, will seek to achieve long-term growth of capital by investing in a focused portfolio of about 25 to 40 common stocks of large-cap companies, the prospectus said.
"Polen is committed to expanding our strategies into different vehicle types to meet specific client needs," said Kevin Dolsen, head of distribution at Polen, in the release. "As we continue to grow, we will continue to take our tested high-conviction strategies and match them with structures investors demand."