US Bancorp Fund Services (USBFS) has added a third exchange-traded fund from Vident Financial to its ETF Series Solution (ESS) multiple series trust (MST).
The Vident Core US Bond Strategy ETF (VBND) launched on 16 October 2014.
“The Vident Core US Bond Strategy ETF provides investors with access to our rules-based principled reasoning methodology. We are proud to collaborate again with US Bancorp Fund Services and Exchange Traded Concepts to launch our third ETF within ETF Series Solutions. The benefits of ESS have allowed us to seamlessly plan, launch and grow our ETF family successfully,” says Nick Stonestreet, chief executive officer for Vident Financial.
VNBD is a fixed income strategy that seeks to track the performance of the Vident Core US Bond Strategy Index. Vident Financial has two additional ETFs in the ESS trust: the Vident International Equity Fund (VIDI), which launched on 29 October 2013; and the Vident US Core Equity Fund (VUSE) which launched on 22 January 2014. Exchange Traded Concepts is the investment adviser for VIDI, VUSE and VBND.
“We’re proud that our partnership with Vident continues to grow through our ESS multiple series trust,” says Joe Redwine, president of US Bancorp Fund Services. “The efficiencies of our ESS model continue to provide Vident with a collaborative structure to meet their requirements, and we’ve enjoyed watching their success grow as each new fund has launched.”
USBFS launched ESS in February 2012. ESS extends the benefits of a shared trust model to one of the industry’s fastest growing segments, and marks the fifth MST, out of six, for US Bancorp Fund Services. Currently, US Bancorp Fund Services shared trusts have over USD30.5 billion in mutual fund assets, 143 participating funds, 237 classes, and 81 different advisers.
