Procure Space ETF (UFO) Blasts Past $100 Million in Assets
Pivotal milestone achieved as investor interest in the commercial space industry heats up
LEVITTOWN, PA / ACCESSWIRE / February 8, 2021 / The Procure Space ETF (Nasdaq:UFO), the inaugural fund launched by innovative exchange-traded product (ETP) issuer ProcureAM, has eclipsed
Brought to market in April 2019, UFO is the world's first exchange-traded fund (ETF) to offer investors pure-play exposure to the multibillion-dollar global space economy. The fund tracks (before fees and expenses) the S-Network Space Index, which focuses on companies that are significantly involved in space-related activities.
"The commercial space industry has been thrust to the forefront of many investors' minds," said Andrew Chanin, co-founder and CEO of ProcureAM. "Competition among global superpowers for space dominance is escalating, while reliance on satellite infrastructure is increasing to meet data-transfer needs and industry participation is picking up amid lowered launch costs. Numerous trends signal a new age for space, and through UFO, investors can harness the sector's potential future growth."
UFO's underlying index was created by space industry expert Micah Walter-Range, former director of research and analysis for the Space Foundation, and is the first Certified Space Data Product™ to be acknowledged by the nonprofit organization. Approximately
Last year, UFO was named "ETF Innovation of the Year" at the Mutual Fund Industry & ETF Virtual Awards 2020, an award that recognizes the most successful ETF focused on a novel strategy or approach to the market.
For more information, please visit www.ProcureETFs.com or contact ProcureAM at info@ProcureAM.com.
About ProcureAM
ProcureAM, LLC (ProcureAM) is an innovative exchange-traded product (ETP) issuer based in Levittown, Pennsylvania. Established by renowned industry veterans Robert Tull and Andrew Chanin, ProcureAM offers a unique platform for the creation of both proprietary and partnered ETPs. ProcureAM listens to clients and endeavors to provide investors with access to distinct investment opportunities. Whether you are looking to invest in ETPs or create one, contact ProcureAM to explore your performance potential: www.ProcureETFs.com.
Media contact:
Gregory FCA for ProcureAM
Jill Fritz, 484-832-7034
procuream@gregoryfca.com
Please consider the Funds investment objectives, risks, and charges and expenses carefully before you invest. This and other important information is contained in the Fund's summary prospectus and prospectus, which can be obtained by visiting procureetfs.com. Read carefully before you invest.
Investing involves risk. Principal loss is possible. The Fund is also subject to the following risks: Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the funds. Brokerage commissions will reduce returns. Aerospace and defense companies can be significantly affected by government aerospace and defense regulation and spending policies. The exploration of space by private industry and the harvesting of space assets is a business based in future and is witnessing new entrants into the market. Investments in the Fund will be riskier than traditional investments in established industry sectors. The Fund is considered to be concentrated in securities of companies that operate or utilize satellites which are subject to manufacturing delays, launch delays or failures, and operational and environmental risks that could limit their ability to utilize the satellites needed to deliver services to customers. Investing in foreign securities are volatile, harder to price, and less liquid than U.S. securities. Securities of small- and mid-capitalization companies may experience much more price volatility, greater spreads between their bid and ask prices and significantly lower trading volumes than securities issued by large, more established companies. The Fund is not actively managed so it would not take defensive positions in declining markets unless such positions are reflected in the underlying index. Please refer to the summary prospectus for a more detailed explanation of the Funds' principal risks. It is not possible to invest in an index.
The S-Network Space Index focuses on companies that are significantly engaged in space-related activities. Index constituents span multiple industries, including satellite-based consumer products and services, rocket and satellite manufacturing, space technology hardware, and space-based imagery and intelligence services. Approximately 80 percent of companies in the index derive the majority of revenues directly from their involvement in the space industry.
UFO is distributed by Quasar Distributors LLC.
References to other investment products should not be considered an offer of those securities.
Fund Intelligence Mutual Fund Industry and ETF Award shortlists and winners are comprised of individuals and firms who have submitted entries or been nominated via the online submission process, as well as through recommendations from leading market participants.
Fund Intelligence Mutual Fund Industry and ETF Award judges will use the submitted application material, as well as any uploaded supplemental information, to determine which firm, individual or product they believe to be the most suitable and deserving winners for each category.
Fund Intelligence Mutual Fund Industry and ETF Award judges have the discretionary power to move nominations into alternative categories that they think may be more suitable.
Fund Intelligence Mutual Fund Industry and ETF Awards were decided by an independent panel of 19 judges with expertise across the asset management space.
SOURCE: ProcureAM
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