On Monday, Guinness Atkinson Asset Management announced that two of its mutual funds have now officially begun trading as ETFs under the firm’s SmartETFs brand. Guinness Atkinson previously announced more details of the transactions, which are believed to be the first of their kind in the U.S. asset management industry.
The mutual funds converted were the Guinness Atkinson Dividend Builder Fund (Nasdaq: GAINX) and the Guinness Atkinson Asia Pacific Dividend Builder Fund (Nasdaq: GAADX). In a non-taxable event for the mutual funds’ shareholders, the shares of the two mutual funds now trade as shares of the SmartETFs Dividend Builder (NYSE Arca: DIVS) and the SmartETFs Asia Pacific Dividend Builder (NYSE Arca: ADIV), respectively.
The SmartETFs Dividend Builder ETF (NYSE Arca: DIVS) is an actively managed dividend growth strategy that seeks dividend-paying companies that have provided an inflation-adjusted cash flow return on investment of at least 10% in each of the last 10 years. The ETF invests in approximately 35 dividend-paying companies globally. The strategy continues to be managed by Dr. Ian Mortimer and Matthew Page.
The SmartETFs Asia Pacific Dividend Builder ETF (NYSE Arca: ADIV) is an actively managed dividend strategy focused on investing in dividend-producing stocks of mature companies in the Asia-Pacific region. The strategy continues to be managed by Edmund Harriss.
“I’m extremely proud of our team at Guinness Atkinson, as well as our partner advisors, and above all, pleased for our shareholders who we believe will be better served in the current strategies through an ETF vehicle,” said Jim Atkinson, CEO of Guinness Atkinson Asset Management. “Seeing the strategies now officially trade as ETFs only gives me more confidence that we will continue to be able to offer groundbreaking, innovative solutions to both Guinness Atkinson Asset Management and SmartETFs shareholders in the future.”
Guinness Atkinson also launched the SmartETFs Smart Transportation & Technology ETF (NYSE Arca: MOTO), the SmartETFs Sustainable Energy II ETF (BATS: SULR), and the SmartETFs Advertising & Marketing Technology ETF (NYSE Arca: MRAD) as part of the SmartETFs family of funds.
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