March 29, 2021 – Brown Brothers Harriman & Co. (BBH), a market leading ETF custodian and administrator, today announced the conversion of two open-end mutual funds to ETFs on behalf of Guinness Atkinson Asset Management: Guinness Atkinson Dividend Builder Fund (GAINX) and Guinness Atkinson Asia Pacific Dividend Builder Fund (GAADX). These are the first two mutual funds converted into ETFs in the U.S. BBH has a long-standing relationship with Guinness Atkinson, serving as custodian, transfer agent, and fund accountant to their mutual funds for over a decade, as well as providing ETF support to their SmartETFs business line since inception in 2019.
“We are proud to support Guinness Atkinson in achieving this important industry milestone,” said Ryan Sullivan, Head of U.S. ETF Servicing at BBH. “This represents a new opportunity for fund managers to bring assets and historic track records to newly listed ETFs and could spark another wave of product development in the ETF market.”
Guinness Atkinson decided to transition the current funds based on growing demand from its shareholder base for access to ETFs and its own previous success in launching three ETF products. These two dividend funds are of particular interest to investors, and Guinness Atkinson believe they will be of even greater interest as ETFs.
“This conversion represents the culmination of a dialogue we’ve had with our shareholder base, who, like many, are increasingly attracted to the benefits of ETFs, including their lower costs and greater flexibility,” said Jim Atkinson, CEO of Guinness Atkinson Asset Management. “This conversion was possible thanks to the work with our great partners at BBH and we are grateful for their expertise and effort.”
About Brown Brothers Harriman
BBH is a privately held financial institution that has been a thought leader and solutions provider for over 200 years. The firm serves individuals, families, businesses and institutions in its three business lines: Private Banking, Investment Management, and Investor Services. BBH’s culture of accountability fosters deep and lasting relationships built on commitment, adaptability and trust. The company is independent, selective, and specialized by design.
BBH’s Investor Services business provides cross-border custody, accounting, administration, execution and technology services to many of the world’s leading asset managers and financial institutions. With deep ETF product expertise, BBH works with both experienced ETF managers and new, innovative market entrants to introduce and grow their ETF products. BBH helps asset managers launch, list, and cross-list ETFs across the globe.
BBH operates its global business out of seventeen offices located in New York, Beijing, Boston, Charlotte, Chicago, Dublin, Grand Cayman, Hong Kong, Jersey City, Kraków, London, Luxembourg, Nashville, Philadelphia, Tokyo, Wilmington and Zürich. For more information, please visit www.bbh.com.
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