Diamonds

Esposito Partners adds new ETF client

Esposito Partners has expanded its sub-advisory services for Factor Advisors' three new PureFunds global equity exchange-traded funds.

These include the first ever ETF to hold shares exclusively of companies engaged in the diamond/gemstone industry.

The funds track indices developed by the International Securities Exchange (ISE) with annual expense ratios of 0.69 per cent. 

"Our growth has been fuelled by partnerships with our clients to fill unmet needs through our core competencies and to innovate and create a technology platform that benefits our partners," says Mark Esposito, founder of Esposito Partners. "Many existing relationships have realised a strategic benefit by designating EP as their sub-adviser of choice.  Working closely with the ETF's custodian and trustee, EP has developed processes designed to minimise the costs and tracking errors in order to optimise the efficiencies associated with domestic and global ETFs."

"We are pleased that Esposito Partners has been selected as the sub-adviser for PureFunds," says Kris Monaco, head of new product development at ISE. "Together with PureFunds and Factor Advisors, we are confident that this will develop a strong foundation for future product innovation."

PureFunds ISE Diamond/Gemstone ETF seeks to replicate the price and yield performance of the ISE Diamond/Gemstone Index of companies actively engaged in the gemstone industry including exploration, production, or sales of precious stones.

PureFunds ISE Mining Service ETF seeks to replicate the price and yield performance of the ISE Mining Service Index of the largest and most liquid companies involved in facilitating the operations of the mining industry as a whole, including companies that manufacture, lease, sell and provide equipment, as well as, companies that provide consulting or other services to the industry.

PureFunds ISE Junior Silver ETF seeks to replicate the price and yield performance of the ISE Junior Silver Miners Index, a benchmark for investors interested in tracking small-cap public companies active in the silver mining exploration and production industry.

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