BNY Mellon Asset Servicing has been selected by Geary Advisors to provide custody, fund administration, fund accounting and transfer agency services for the Oklahoma Exchange-Traded Fund and the Texas Large Companies Exchange-Traded Fund, the first two exchanged-traded funds (ETFs) to focus on businesses in specific states.
Geary Advisors, part of Geary Companies, is the investment adviser for both ETFs.
We are seeing heightened interest in ETFs, as investors demand a cost-effective method to target an increasing number of market niches, said Joseph Keenan, managing director and head of relationship management for financial services companies at BNY Mellon Asset Servicing.
We are investing in the technology required to deliver ETFs that are easily scaleable for both active and passive investors.