New York Life Investments Restructures Two Semi-Transparent Actively Managed ETFs to Fully Transparent
NEW YORK, Aug. 28, 2024 – New York Life Investments, a leading provider of innovative public and private market investment solutions, today announced the restructuring of its two active semi-transparent Exchange Traded Funds (ETFs), NYLI Winslow Large Cap Growth ETF (IWLG) and NYLI Winslow Focused Large Cap Growth ETF (IWFG), to become active fully transparent ETFs, effective today.
The two ETFs, formerly known as the IQ Winslow Large Cap Growth ETF and IQ Winslow Focused Large Cap Growth ETF, are subadvised by Winslow Capital Management, LLC (Winslow Capital), a growth equity investment firm grounded in fundamental, long-term investing. Both ETFs are managed by Winslow Capital’s seasoned investment team, which is led by Justin Kelly, Patrick Burton, Peter Dlugosch and Steven Hamill.
IWLG and IWFG, respectively, seek long-term growth of capital by employing a bottom-up investment process while investing in companies that have the potential for above-average future earnings and cash flow growth. Both ETFs are non-diversified, which means they can invest a larger percentage of assets in a smaller number of companies, allowing the portfolio management team to express conviction in their best ideas. There are no changes to the investment team, process or objective as a result of the restructuring.
“We’re pleased to be announcing these changes to IWLG and IWFG. Both strategies have performed extremely well relative to their peers since they started trading just over two years ago, and as investors and advisors continue to embrace fully transparent active ETF approaches, we think this move positions us well to continue to explain the role these funds can play in a portfolio,” said Justin Kelly, Chief Executive Officer and Chief Investment Officer of Winslow Capital.
For more information on the funds and on New York Life Investments’ full slate of ETF offerings, please visit our website here.
About New York Life Investments
With over $727 billion in Assets Under Management* as of June 30, 2024, New York Life Investments, Pensions and Investments' Top 30 Largest Money Manager**, is comprised of the affiliated global asset management businesses of its parent company, New York Life Insurance Company, and offers clients access to specialized, independent investment teams through its family of affiliated boutiques. New York Life Investments remains committed to clients through a combination of the diverse perspectives of its boutiques and a long-lasting focus on sustainable relationships.
*Assets under management (AUM) includes assets of the investment advisers that make up "New York Life” as of June 30, 2024. "New York Life Investments'' is both a service mark, and the common trade name, of the following investment advisors (also referred to herein individually as a "boutique" and collectively as "boutiques") affiliated with New York Life Insurance Company: Ausbil Investment Management Limited ("Ausbil"), Apogem Capital LLC ("Apogem"), Candriam S.C.A. ("Candriam"), MacKay Shields LLC ("MacKay Shields"), New York Life Investment Management LLC ("NYLIM LLC"), NYL Investors LLC ("NYL Investors"), and Tristan Capital Partners LLP ("Tristan").
Assets under management (AUM) includes assets of the investment advisers that make up "New York Life Investments" as of 6/30/2024. AUM includes certain assets, such as non-discretionary AUM, external fund selection, and overlay services, including ESG screening services, advisory consulting services, white labeling services, and model portfolio delivery services, that are not necessarily considered Regulatory Assets Under Management according to the SEC's Form ADV. AUM is reported in USD. AUM not denominated in USD is converted at the spot rate as of 6/30/2024. The total AUM figure of "New York Life Investments" is less than the sum of the AUM of each affiliated investment adviser in the group because it does not count AUM where the same assets can be counted by more than one affiliated investment adviser.
** On June 10, 2024, New York Life Investments was ranked #26 in Pensions & Investments' Largest Money Managers 2024 for the time period 12/31/22 – 12/31/23. (Managers are ranked by total worldwide institutional assets under management. Full list here.) No direct or indirect compensation was paid for the creation and distribution of this ranking. For more information about ranking click here - Largest Money Managers 2023 | Pensions & Investments (pionline.com)
"New York Life Investments" is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company.
About Winslow Capital
Winslow Capital, subadvisor for New York Life Investments, is a growth equity investment firm grounded in fundamental, long-term investing with more than $31 billion in assets as of June 30, 2024 across its lineup of growth equity offerings. Through a disciplined approach and deep fundamental research, Winslow Capital aims to identify sustainable opportunities in public and private markets globally. Winslow Capital’s flagship offering is a U.S. Large Cap Growth Equity Strategy, which has been managed since the Firm’s inception.
Disclosures
About Risk:
Growth-oriented common stocks and other equity type securities (such as preferred stocks, convertible preferred stocks and convertible bonds) may involve larger price swings and greater potential for loss than other types of investments. Typically, the subadvisor intends to invest substantially all of the Fund’s investable assets in domestic securities. However, the Fund is permitted to invest up to 20% of its net assets in foreign securities. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. These risks may be greater for emerging markets.
Certain environmental, social, and governance (“ESG”) criteria may be considered when evaluating an investment opportunity. This may result in the Fund having exposure to securities or sectors that are significantly different than the composition of the Fund’s benchmark and performing differently than other funds and strategies in its peer group that do not take into account ESG criteria.
The Fund is non-diversified. By concentrating in a smaller number of investments, the Fund’s risk is increased because each investment has a greater effect on the Fund’s performance.
Consider a Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus and the statement of additional information include this and other relevant information about a Fund and are available by visiting www.newyorklifeinvestments.com or calling 888-474-7725. Read the prospectus carefully before investing.
Winslow Capital Management, LLC is unaffiliated with New York Life Investments. “New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company
Securities distributed by NYLIFE Distributors LLC, 30 Hudson Street, Jersey City, NJ 07302, Member FINRA/SIPC.
Media Contacts:
New York Life Investments
Sara Guenoun
sara_j_guenoun@newyorklife.com
MacMillan Communications
Chris Sullivan
chris@macmillancom.com