Exchange-traded fund (ETF) provider Pacer ETFs has snapped up American Energy Independence ETF (USAI). Financial details of the deal have not been disclosed.
The acquired ETF was rebranded as Pacer American Energy Independence ETF. With this acquisition, Pacer ETFs expands its portfolio offering investors options to invest in midstream energy infrastructure.
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It intends to capitalise on the US’ strong position as a global oil and gas market leader. According to analysts, the US will continue to drive energy market to 2025 by accounting nearly 20% of global oil production and 25% of natural gas production.
Pacer ETFs Distributors president Sean O’Hara said: “Acquiring USAI has allowed us to continue to expand our offerings and provide advisors and investors with an array of funds that can complement a range of portfolios by enabling access to a wide array of investment opportunities or rules-based strategies.
“Our priority remains providing best-in-class investment options, which is why we continue to seek investment opportunities we think demonstrate long-term potential.
“We see the midstream energy infrastructure sector as a market with tremendous opportunity.”
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By GlobalDataPacer portfolio already includes funds that aim growth opportunities in e-commerce, retail and technological infrastructure.
With Pacer USAI fund, the company seeks to provide investors with access to assets that can offer high potential income and inflation-protected cash flows.
Pacer ETFs portfolio includes 22 ETFs segregated under four fund families. As of 13 December 2019, the company had around $5.48bn in assets under management.
