BNY Mellon OMNI(SM) Selected by Gabelli Funds to Launch its New Actively Managed ETF

Rhea-AI Summary

On February 9, 2021, BNY Mellon was chosen by Gabelli Funds to launch its new actively managed ETF, Gabelli Love Our Planet and People (LOPP). This fund targets sustainable companies focusing on renewable energy and waste reduction, utilizing a thorough ESG analysis. Notably, Gabelli Funds will absorb all fees on the first $100 million invested for the first year. Ben Slavin of BNY Mellon highlighted the growing demand for ESG products, emphasizing the importance of their OMNI platform in facilitating this collaboration for improved efficiency in fund administration.

Positive

• Launch of Gabelli Love Our Planet and People ETF focuses on sustainable investments.
• Gabelli Funds will cover all fees on the first $100 million invested for the first year.
• BNY Mellon's OMNI platform enhances fund efficiency and transparency for ESG products.

Negative

• None.

NEW YORK, Feb. 9, 2021 /PRNewswire/ -- BNY Mellon has been selected by Gabelli Funds to facilitate the launch of its new actively managed ETF, Gabelli Love Our Planet and People (LOPP). Gabelli will leverage BNY Mellon's OMNI^SM platform for integrated custody, accounting, administration and ETF Services—including BNY's proprietary ETF Center, which offers technology designed to support actively managed ETFs.

LOPP focuses on investing in companies committed to sustainable practices such as renewable energy and the reduction or recycling of long-lived wastes. The fund incorporates a research-intensive process of both value focused social screens and a holistic ESG analysis to deliver returns in an environmentally accountable manner. Additionally, all fees and expenses will be absorbed by Gabelli Funds on the first $100 million invested in the Fund, for at least the first twelve months.

"This win marks yet another milestone in BNY Mellon's growth in servicing active non-transparent ETF products," said Ben Slavin, Global Head of ETFs, Asset Servicing at BNY Mellon. "Now more than ever, flows into the ESG space continue to climb, and it appears that this trajectory will only accelerate. We are proud to support these types of ESG-themed products through our OMNI platform, and are excited to work with Gabelli Funds to provide investors with the opportunity to expand their portfolios into ESG and sustainable investing-themed products."

Through its unique insights in the ESG space and extensive client experience with individual and institutional investors, BNY Mellon will support Gabelli Funds' entry into the field. This collaboration will facilitate greater efficiency and transparency in fund administration, providing value for investors who seek a fund that mirrors their own ESG principles.

To learn more about BNY Mellon Asset Servicing, please visit our website: www.bnymellon.com.

About BNY Mellon

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Dec. 31, 2020, BNY Mellon had $41.1 trillion in assets under custody and/or administration, and $2.2 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

About Gabelli Funds

Gabelli Funds GAMCO Investors, Inc. (NYSE:GBL), through its subsidiaries, manages assets of private advisory accounts (GAMCO) and mutual funds and closed-end funds (Gabelli Funds, LLC), and is known for its Private Market Value with a Catalyst™ style of investment. As of December 31, 2020, GAMCO Investors, Inc. had $32.6 billion in assets under management. Further information can be found at www.gabelli.com. Follow GAMCO Investors, Inc. on Twitter @InvestGabelli or visit their Investor Relations page at www.gabelli.com/corporate/investor_relations for the latest company news.

Contact:
Paul Patella
BNY Mellon Asset Servicing
paul.patella@bnymellon.com 
+1 212 635 1378

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SOURCE BNY Mellon

FAQ

What is the new ETF launched by Gabelli Funds?

Gabelli Funds launched the Gabelli Love Our Planet and People (LOPP) ETF, which focuses on sustainable investments.

What are the investment focuses of the Gabelli LOPP ETF?

The Gabelli LOPP ETF invests in companies committed to sustainable practices, including renewable energy and waste reduction.

Who is facilitating the launch of the Gabelli LOPP ETF?

BNY Mellon is facilitating the launch of the Gabelli Love Our Planet and People ETF.

What financial benefit does Gabelli Funds offer for the LOPP ETF?

Gabelli Funds will absorb all fees on the first $100 million invested in the LOPP ETF for at least the first twelve months.

When was the Gabelli LOPP ETF announced?

The Gabelli Love Our Planet and People ETF was announced on February 9, 2021.