August 31, 2016 09:20 AM Eastern Daylight Time
SUMMIT, N.J.–(BUSINESS WIRE)–ETF Managers Group in partnership with PureFunds today debut their newest fund, the PureFunds ETFx HealthTech ETF (IMED).
Trading on the Nasdaq, IMED invests in companies that are providing new solutions and transformative technology to the healthcare and medical industries. All of its 60 constituents are engaged in healthcare informatics, medical instruments and/or medical appliances.
“IMED’s key differentiator is an investment thesis around the premise that companies successfully practicing interdisciplinary convergence may lead in their respective markets,” Andrew Chanin, CEO of PureFunds, said. “We believe that we are in the early phases of the era of convergence in the broader healthcare technology segment and on the cusp of transformative solutions coming to market. As an example, the next phases of healthcare informatics will leverage areas as diverse as nanotechnologies, advanced sensors, predictive big data analytics, cloud computing and virtual reality to bring about yet another paradigm shift to cut costs and boost operational efficiencies. IMED is intended to serve as a vehicle for investors to gain exposure to this highly innovative, technology-driven slice of the broader healthcare sector.”
Sam Masucci founder and CEO of ETF Managers Group said, “I think investors will be surprised to see the exposure that IMED offers; these health technology companies do not receive the same media attention as large healthcare providers or biotechs developing new drugs yet it is their aim to fix the systemic problems in healthcare and greatly improve on the time and price efficiencies of getting quality healthcare to the public.”
“As costs continue to pile up in the rapidly changing healthcare industry, hospitals, providers, doctors and others who work in the space are becoming heavily reliant on technological advances and improvements to save time and money,” Elias Azrak, Co-founder of ETFx Investment Partners, LLC, commented. “IMED presents an intriguing opportunity to tap into this technological renaissance taking place in the healthcare field.”
Assisting PureFunds in bringing IMED to market is Amplify Development, Nasdaq, ETFx Investment Partners, LLC, and ETF Managers Group. A rules-based product costing 75 basis points*, IMED tracks the ETFx HealthTech Index (HTXRI) and is equal-weighted within each of its categories. IMED joins PureFunds’ suite of products, BIGD, GAMR, HACK, IFLY, IPAY, SILJ and FINQ, which also begins trading today on the NASDAQ.
*A basis point is one hundredth of a percent
As an innovator of ETF concepts, PureFunds® strives to provide the market with easy access to in- demand industries through pure-play ETFs. We are a New York City-based research and business management firm, serving as the Manager and/or Sponsor to the suite of PureFunds ETFs. We aim to provide investors with tactical ETFs that may offer attractive investment opportunities in sectors that traditionally have been difficult to invest in. With vast experience in global equity investing and ETF trading, we have a refreshing and alternative insight into the growing world of ETFs. We have constructed our distinct suite of products in an attempt to meet the needs of investors and traders alike.
About ETF Managers Group
ETF Managers Group, LLC is a leading Exchange Traded Funds (ETF) private label services company. ETF Managers Group offers a full range of ETF product services to the asset management community including commodity pool ETPs as well as both active and passive ETF funds. The services provided include product operations, regulatory, financial and compliance management. ETF Managers Group offers active marketing and dedicated wholesale services for all ETF product types and index construction.
Carefully consider the Funds’ investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Funds’ prospectuses, which may be obtained by calling 1-877-756-PURE (1.877.756.7873), or by visiting www.PureFunds.com. Read the prospectuses carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility. The fund is new with limited operating history. The fund is concentrated in technology oriented companies, which face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Such companies may have limited product lines, markets, financial resources or personnel. The products of such companies may face obsolescence due to rapid technological developments, frequent new product introduction, unpredictable changes in growth rates, competition for the services of qualified personnel, and competition from foreign competitors with lower production costs. Technology oriented companies are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability of these companies. Health care companies are subject to extensive government regulation and their profitability can be significantly affected by restrictions on government reimbursement for medical expenses, rising costs of medical products and services, pricing pressure (including price discounting), limited product lines, and an increased emphasis on the delivery of healthcare through outpatient services. Health care companies are heavily dependent on obtaining and defending patents, which may be time consuming and costly, and the expiration of patents may also adversely affect the profitability of the companies. Health care companies are also subject to extensive litigation based on product liability and similar claims. In addition, their products can become obsolete due to industry innovation, changes in technologies, or other market developments. Many new products in the health care field require significant research and development and may be subject to regulatory approvals, all of which may be time consuming and costly with no guarantee that any product will come to market. Investments in foreign securities involve political, economic and currency risks, greater volatility and differences in accounting methods. The Funds are non-diversified, meaning they may concentrate its assets in fewer individual holdings than a diversified fund. Investments in smaller companies tend to have limited liquidity and greater price volatility than large-capitalization companies. The Fund’s return may not match or achieve a high degree of correlation with the return of the ETFx HealthTech Index. To the extent the Fund utilizes a sampling approach, it may experience tracking error to a greater extent than if the Fund had sought to replicate the ETFx HealthTech Index.
The PureFunds ETFx HealthTech ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the ETFx HealthTech Index The ETFx HealthTech Index is designed to reflect the performance of companies involved in the healthcare technology industry, including companies that provide three technology-driven segments affecting the allocation, delivery and management of healthcare services and products through companies engaged in Healthcare Informatics, Medical Instruments and Medical Appliances. One cannot invest directly in an index.
The Fund is distributed by ALPS Distributors, Inc. which is not affiliated with ETF Managers Group, LLC or any of its affiliates, NASDAQ, or Solactive AG. Andrew Chanin and Sam Masucci are registered representatives of ALPS Distributors, Inc.