State Street Corporation has been appointed service provider by Neuberger Berman for the firm’s first actively managed ETFs.
As part of the appointment, State Street is providing ETF basket services, custody, fund accounting, fund administration, order-taking and transfer agency services.
Neuberger Berman launched its first actively managed ETFs in April 2022. The three new ETFs will invest in companies related to the following distinct thematic megatrends: technology disruption, digitally connected consumers, and infrastructure-enabling decarbonisation.
Managed by Neuberger Berman, the ETFs are an extension of the firm’s thematic equity investment capabilities utilising traditional fundamental equity research along with alternative data capabilities and consideration of material ESG factors.
The funds are listed on the New York Stock Exchange as:
- Neuberger Berman Connected Consumer ETF (NBCC)
- Neuberger Berman Carbon Transition & Infrastructure ETF (NBCT)
- Neuberger Berman Disrupters ETF (NBDS)
“It’s been tremendously rewarding to be working with Neuberger Berman on the launch of their first active ETFs,” says Frank Koudelka, global ETF product specialist at State Street. “Our team has a long history and strong relationship with Neuberger Berman. We are very pleased to see our partnership — which focused on a consultative and educational approach – provided a foundation for their first move into active ETFs.”
“Neuberger Berman is pleased to be working alongside State Street, a consultative leader in the ETF industry, for the launch of these investment strategies,” says Patrick Lomelo, Global Head of Operations at Neuberger Berman. “Their impressive track record with ETFs made them the right partner as our firm enters this important new market.”