Pacer ETFs has pushed through another milestone in asset growth, having amassed USD30 billion in assets under management (AUM) since its inception in 2015 as of November 14, 2023.
The firm writes that this accomplishment comes just four months after the firm announced its surpassing of USD25 billion in AUM in July. This rapid asset accumulation of USD5 billion inflows since July, showcases a remarkable growth rate, especially during what has been a mostly sideways market in the second half of the year, the firm writes.
“Reaching the USD30 billion mark in assets under management stands as a testament to our team’s commitment to client service and innovative investment solutions,” says Pacer ETF Distributors President Sean O’Hara. “In a year impacted by notable market and economic challenges, our suite of strategy-driven, rules-based ETFs have continued to provide investors unique solutions to navigate these uncertain markets. This is incredible momentum heading into 2024 and we look forward to sustaining this growth with new products and continued high-quality service for those we work with.”
The firm’s largest, leading ETF fund family, the Pacer Cash Cows Index ETF Series, which seeks to deliver capital appreciation by investing in companies with high free cash flow yield, continues to serve as a primary driver for the firm’s growth and success. Notably, the Pacer US Cash Cows 100 ETF (COWZ) alone has grown to over USD16 billion. This series’ growth, which is approximately USD23.65 billion across the family of funds, can be attributed to heightened investor demand for value-driven strategies with a focus on high free cash flow as a core investment parameter,” the firm writes.
“We’re incredibly proud of the Pacer team for the success we’ve achieved this year and our team’s ability to maintain such strong growth despite the market environment,” says Joe Thomson, Founder and President of Pacer Financial. “Our commitment to quality and client-centric values drives us forward along with the relationships we’ve formed with our clients, partners, and investors. We are very appreciative to all the financial advisers who utilise our ETFs and look forward to what 2024 will bring to the Pacer family.”