GAMCO Investors, with USD33.5 billion under management, has announced that it will launch the Gabelli Asset ETF (NYSE: GAST), early in 2022.
The firm writes that this team-managed fund, like its predecessor, Love Our Planet and People, will not incur any fees or expenses for the first USD25 million of the fund’s assets under management.
GAST’s investment objective is to achieve capital appreciation. The fund will seek to identify and invest in leading firms that design, develop, support, or manufacture automation equipment, related technology, software or processes, and firms that use these to automate and increase productivity in their own businesses. These include industrial and service automation, robotics, artificial intelligence, autonomous driving, and related equipment and software.
The firm writes that in pursuing the investment theme, the fund may invest in firms in any economic sector and in any geographic region. The fund evaluates the entire ecosystem of components and technology providers that support the reshaping and upgrading of global production networks and that address tight labour markets and productivity challenges worldwide.
Leading the investment team of GAST is Brett Kearney, CFA who joined the firm in 2017. Also on the team is veteran portfolio manager and analyst, Justin Bergner, CFA, who originally joined the firm in 2005 as a metals and mining analyst, and for the last eight plus years has focused his efforts as industrial analyst following a number of broadly diversified firms.
Rounding out the team is Hendi Susanto who joined Gabelli Funds in 2007 and specialises in the broad technology sector including software, hardware, cyber security, and semiconductors.