Exchange Traded Concepts, a provider of white label Exchange Traded Fund solutions, in conjunction with Eve Capital, is to transfer The Peritus High Yield ETF (HYLD) to the ETC ELF Trust.
“We are thrilled to be working with Eve Capital to help revive such a well-known and well-respected product to the investment community,” says J Garrett Stevens, CEO of Exchange Traded Concepts. “We believe the addition of HYLD to our expanding stable of nearly 30 ETF’s delivers attractive opportunities for both significant growth and to enhance our income focused offerings.”
“We are excited about this opportunity to continue our work with ETC and ETC Marketing Services on this endeavour,” says Bryce Tillery, CEO of Eve Capital.
HYLD will be sponsored by Dallas-based Eve Capital. The Change in ETF Trusts will ensure that normal business will remain intact for HYLD, not affecting the ETF’s investment approach and fund operations during this transition. This new reorganisation plan provides a unique opportunity that all involved parties believe serves in the best interest of HYLD shareholders, including a new platform and marketing team to highlight HYLD’s remarkable income story, recent performance and strong emergence from a challenging high yield environment.
HYLD seeks to provide a high, tangible current income stream that is distributed monthly, which can help meet investor income goals as part of a diversified portfolio.