Global investments company BNY Mellon announced today that is has been selected by Gabelli Funds to facilitate the launch of its new actively managed ETF, Gabelli Love Our Planet and People (LOPP). BNY Mellon will provide integrated custody, accounting, administration and ETF Services through its OMNI securities services platform, including BNY’s proprietary ETF Center, which offers technology designed to support actively managed ETFs.
Gabelli recently announced plans for the launch of LOPP, which aims to invest in companies committed to sustainable practices such as renewable energy and the reduction or recycling of long-lived wastes such as plastics, utilizing a research-intensive process including value-focused social screens and a holistic ESG analysis to deliver returns in an environmentally accountable manner. Gabelli also announced that it will offer a loyalty program under which the first $100 million invested in LOPP will incur no fees or expenses for at least one year, with the firm absorbing all costs in an effort to underscore its emphasis on the environment, and to help clients “invest in the future of planet earth and our people.”
Ben Slavin, Global Head of ETFs, Asset Servicing at BNY Mellon, said:
“This win marks yet another milestone in BNY Mellon’s growth in servicing active non-transparent ETF products. 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.”