The United States Oil Fund, a commodity-based exchange traded fund (ETF) investing solely in oil managed by Victoria Bay Asset Management, has appointed Brown Brothers Harriman (BBH) as custodian, administrator, and transfer agent. BBH will also provide any necessary fixed income execution through the firm’s fixed income trading desk.
“BBH is providing the United States Oil Fund with custody, administration and transfer agency and has demonstrated that they are a leading edge provider of these services in the financial services industry,” says Nicholas Gerber, General Partner of the US Oil Fund, LP. “BBH’s ETF and industry expertise provided us with the operational support needed to quickly launch our product. We are happy that we choose BBH as a solutions partner and look forward to working with them further.”
“BBH is pleased to serve as custodian, administrator, and transfer agent for the US Oil Fund,” adds Jeffrey B. McCarthy, Relationship Manager responsible for ETF services. “This is an exciting time for ETFs and BBH’s partnering philosophy, experience with ETFs, and focus on client needs, make us uniquely suited for innovative products like the US Oil Fund.”