State Street Corporation has been appointed service provider for Neuberger Berman’s first actively managed exchange traded funds (ETFs).
As part of the appointment, State Street is providing ETF basket services, custody, fund accounting, fund administration, order-taking and transfer agency services.
Launched in April, the three new ETFs are listed on the New York Stock Exchange as: Neuberger Berman Connected Consumer ETF (NBCC), Neuberger Berman Carbon Transition & Infrastructure ETF (NBCT), and Neuberger Berman Disrupters ETF (NBDS).
The funds will invest in companies related to the thematic megatrends of technology disruption, digitally connected consumers, and infrastructure-enabling decarbonization.
Managed by Neuberger Berman, the ETFs are an extension of the firm’s thematic equity investment capabilities using traditional fundamental equity research along with alternative data capabilities and consideration of environmental, social and governance (ESG) factors.