Vident Asset Management has announced its role as sub-advisor for the newly launched Brown Advisory Flexible Equity ETF (BAFE). The ETF, which represents Brown Advisory's first entry into the ETF market, launched on November 18, 2024, with $913 million in assets. BAFE aims to provide long-term performance in value names across both growth and value market cycles using Brown Advisory's proprietary 'Flexible Equity' methodology. The fund was created through a 351 transaction, converting several separately managed accounts into a single ETF structure to potentially offer improved tax treatment and other benefits for clients.
SEI announced that Brown Advisory has selected the Advisors' Inner Circle (AIC) series trust platform to launch its first ETF, the Brown Advisory Flexible Equity ETF (BAFE). The fund, focusing on U.S. companies, was created through the conversion of taxable SMAs. This launch comes as the U.S. ETF market reached a record $10 trillion in September 2024.
The AIC platform, pioneered by SEI over 30 years ago, currently manages $103 billion in net assets, serving 45 clients and 121 funds. The platform enables investment organizations to launch and grow various fund types without building their own operating infrastructure.