Nuclear renaissance

Our interview this week is with John Ciampaglia, CEO, Sprott Asset Management and Senior Managing Partner, Sprott Inc, a firm that specialises in investment in precious metals and energy transition investment strategies and also manages the Sprott Uranium Miners UCITS ETF (URNM), from HANetf, which recently saw assets under management go over USD100 million on the back of renewed interest in the element. The US version of the fund has some USD1.25 billion under management.

Uranium is core to the production of nuclear energy which is back in fashion as a ‘clean’ energy with low carbon footprint. The change in attitude started two years ago at COP26 when there was the first public acknowledgement from the world’s governments that they couldn’t hit their targets if they phased out nuclear energy, Ciampaglia says.

“Then came the shock of the invasion of Ukraine which created an energy crisis for countries that are not resource independent, and the second real catalyst has been a realisation that nuclear energy has to be part of the mix as it provides incredible energy security.”

The World Nuclear Association’s long-term forecast for uranium demand has gone up 15 per cent since its last forecast two years ago.

Other news this week came from Cerulli Associates in the US who write that, for the first time, ETFs are viewed by asset managers as the largest opportunity among investment vehicles, taking a lead over institutional separate accounts, which had been viewed as the largest opportunity.

“Most product development in ETFs is occurring in the transparent active wrapper, which appears to have won the battle over semi-transparent structures. However, opinions still stand that low-liquidity strategies such as small-cap equity will need to use semi-transparent structures to effectively reallocate throughout the year. Strategy replications across vehicle structures lead product development plans when compared to building out new strategies for several vehicles, including ETFs, separate accounts, and collective investment trusts (CITs),” Cerulli reports.

Beverly Chandler, Managing Editor

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Cerulli Associates’ US Monthly Product Trends analyses product trends as of August 2023, including mutual funds and ETFs and finds that mutual funds shed assets due to both flows and performance in August, as asset levels dropped USD464 billion during a month that suffered USD45.8 billion in total net outflows.
Geo-political tensions and concerns about hitting clean energy targets have brought the focus back onto nuclear power in recent months, and as a result, uranium, essential in the process of creating nuclear power, is back in demand. 

Global ETF Launches

Global Launches sponsored by STOXX
Launches outside the north American launches this week included two fixed income launches from BNP Paribas Asset Management and a new index from Qraft Technologies and Solactive.

US ETF Launches

US Launches sponsored by STOXX
25 new ETF offerings were launched for the week, each with a distinct value proposition for investors.  Detailed below are the respective launches from each asset manager.


Canada Launches sponsored by STOXX
Hamilton ETFs launched the Hamilton U.S. Bond Yield Maximiser ETF (Ticker: HBND). The ETF seeks to deliver attractive monthly income, while providing exposure primarily to U.S. treasuries through a portfolio of bond exchange traded funds. To supplement distribution income earned on its holdings, mitigate risk and reduce volatility, HBND will employ an actively managed covered call overlay.
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