CHARLOTTE, N.C., Dec. 14, 2021 /PRNewswire/ -- Truist
Financial Corporation (NYSE: TFC) and Sterling Capital Management
LLC, a registered investment advisor and wholly owned subsidiary of
Truist, today announced the launch of the Sterling Capital Diverse
Multi-Manager Active ETF (NYSE: DEIF). This multi-manager ETF
combines active management investment strategies architected by
majority diverse-owned asset managers into a single, fully
transparent investment vehicle.
Truist has committed $100 million
in investment capital to DEIF to support its initial launch and to
demonstrate Truist's support of increasing opportunities for
diverse-owned asset managers.
DEIF consists of three strategies — U.S. large-cap value, U.S.
large-cap growth and U.S. mid-cap core — each of which is actively
managed by a diverse-owned investment sub-advisor. For DEIF, each
sub-advisor submits its strategy to Sterling Capital for review and
implementation within the overall fund portfolio.
DEIF's sub-advisors and the respective active management
strategies they provide to Sterling Capital are:
- Boston Common Asset Management, LLC — U.S. large-cap value
strategy (portfolio manager: Geeta
Aiyer, president and founder)
- GQG Partners LLC — U.S. large-cap growth strategy
(portfolio manager: Rajiv Jain,
co-founder, chairman and chief investment officer)
- EARNEST Partners, LLC — U.S. mid-cap core strategy
(portfolio manager: Paul Viera,
founder and chief investment officer)
"The Sterling Capital Diverse Multi-Manager Active ETF combines
the expertise of three asset management firms and increases access
for individuals and institutions to invest using strategies from
diverse-owned firms," said Joseph M.
Thompson, chief wealth officer at Truist Financial
Corporation. "Creating a new opportunity to advance diversity,
equity and inclusion in the financial services industry is another
way we fulfil our purpose to inspire and build better lives and
communities."
"Sterling Capital is excited to launch this new ETF into the
market, and we're thrilled to work with this trio of managers, each
of whom have demonstrated a commitment to diversity, equity and
inclusion and to long-term investment performance," said
Alex McAlister, chief executive
officer of Sterling Capital.
DEIF is the second ETF offered by Sterling Capital. More
information and the prospectus are available at
www.sterlingcapital.com/etf/deif or by contacting John McAuley at 704.927.4109 or
jmcauley@sterlingcapital.com.
About Truist
Truist Financial Corporation is a purpose-driven financial services
company committed to inspiring and building better lives and
communities. Formed by the historic merger of equals of BB&T
and SunTrust, Truist has leading market share in many high-growth
markets in the country. The company offers a wide range of services
including retail, small business and commercial banking; asset
management; capital markets; commercial real estate; corporate and
institutional banking; insurance; mortgage; payments; specialized
lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10
U.S. commercial bank with total assets of $530 billion as of September 30, 2021. Truist Bank, Member FDIC.
Learn more at Truist.com.
About Sterling Capital Management
Sterling Capital
Management LLC is a registered investment advisor with over
$86 billion in assets under
management and assets under advisement* as of September 30, 2021. Founded in 1970, Sterling is an independently operated firm backed
by Truist Financial Corporation. Headquartered in Charlotte, N.C., Sterling is comprised of 149 investment and client
service professionals with offices in Raleigh, NC; Washington, DC; Virginia Beach, VA; Jupiter, FL; Philadelphia, PA; and San Francisco, CA. Sterling provides investment management services to
a diverse group of clients, including corporate, public, health
care, private clients, endowment, foundation, insurance,
sub-advisory and managed investment pools. Learn more at
www.sterlingcapital.com.
*Sterling's preliminary Assets Under
Advisement (AUA) differs from our regulatory Assets Under
Management (AUM) for which we provide continuous and regular
investment management services as disclosed in our ADV. AUA
generally refers to non-discretionary assets for which Sterling provides advice or consultation for which
Sterling does not have authority to
effectuate transactions. Such services include Model portfolios and
assets Sterling advises as an
outsourced Chief Investment Officer on a non-discretionary basis.
Sterling personnel and office location
data is as of September 30, 2021.
About the Sub-Advisors
Boston Common Asset Management
(BCAM) is a diverse, women-led, sustainable investor and innovator
dedicated to the pursuit of financial return AND social change. An
active, global equity ESG (environmental, social, & governance)
asset manager and a leader in impactful shareowner engagement since
its founding in 2003, BCAM is majority women- and employee-owned.
BCAM is headquartered in Boston,
MA, with offices in San Francisco,
CA. The company's investment strategies managed $5.7 billion in assets as of September 30, 2021.
GQG Partners is an $85 billion
investment manager based out of Fort
Lauderdale, Florida, managing assets for clients in
the United States and globally.
With an investment philosophy focused on forward-looking quality,
GQG constructs concentrated, benchmark agnostic equity portfolios,
with the goal of compounding clients' wealth while seeking to
manage downside risk. The investment process is executed by a
seasoned and uniquely diverse team of professionals, combining
traditional and non-traditional investment experience.
EARNEST Partners is an independent, employee-owned asset
management firm currently advising on more than $25 billion in assets for clients around the
world. The firm offers competitive active strategies, in non-U.S.
and U.S. markets, across the market cap spectrum as well as fixed
income products to match specific duration objectives. EARNEST
Partners seeks to invest in businesses that support their
community's values while providing superior returns to their equity
and debt holders. EARNEST Partners is headquartered in Atlanta, GA with research offices in
China and Brazil.
About the Portfolio Managers
Mary Weeks Fountain,
CFA®, joined Sterling Capital Management in
1985 and has investment experience since 1985. Mary Weeks is a senior private client portfolio
manager. She received her B.A. in Chemistry from the University of North Carolina at Chapel Hill. She
holds the Chartered Financial Analyst® designation.
Brandon Carl,
CFA®, joined BB&T Asset Management in 2001 and
Sterling Capital Management through merger in 2010. He has
investment experience since 2001. Brandon is a portfolio manager on
Sterling's Advisory Solutions team with
a focus on equity. Previously, he graduated from the BB&T
Leadership Development Program and was an equity analyst covering
the healthcare and consumer staples sectors for BB&T Asset
Management. He received his B.S. in Finance and Management from the
University of South Carolina. He holds
the Chartered Financial Analyst® designation.
Jeremy Lopez,
CFA®, joined Sterling Capital Management in 2016 and
has investment experience since 1997. Jeremy is co-portfolio
manager of the Global Leaders and Focus Equity
strategies. Prior to joining Sterling, he worked as an equity research analyst
at Herndon Capital Management and Wells Capital Management.
Additionally, he was a senior equity research associate at William
& Blair Company. He received his B.A. in Economics from
Wheaton College and his M.B.A. from the
University of Chicago's Booth School of
Business. He holds the Chartered Financial Analyst®
designation.
Disclosures
There is no guarantee that the Diverse
Multi-Manager Active ETF will achieve its objectives, generate
profits or avoid losses.
Majority diverse-owned sub-advisers are greater than 50 percent
owned and/or controlled by persons of designated diverse
backgrounds, including women, racial minorities, LGBTQ+
individuals, veterans, and disabled individuals.
Shares of the Diverse Multi-Manager Active ETF are not deposits
or obligations of, or guaranteed or endorsed by, Truist Bank or its
affiliates. The Diverse Multi-Manager Active ETF is not insured by
the FDIC or any other government agency. The Diverse Multi-Manager
Active ETF is distributed by Northern Lights Distributors, LLC,
member FINRA/SIPC, which is not affiliated with Sterling, Truist or its affiliates.
Risk Considerations
Investing involves risk.
Investment return and principal value of an investment will
fluctuate, and an investor's shares, when redeemed, may be worth
more or less than their original cost. The fund is new with limited
operating history. ETFs are subject to investment advisory and
other expenses, which will be indirectly paid by the Fund.
ETFs are subject to issuer risks and other risks specific to the
Fund. The adviser's judgments about the growth, value or potential
appreciation of an investment may prove to be incorrect or fail to
have the intended results. An ESG investment strategy limits the
types and number of investment opportunities available, and, as a
result, the strategy may underperform other strategies that do not
have an ESG focus.
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.
Investors should carefully consider the investment
objectives, risks, charges, and expenses of the Diverse
Multi-Manager Active ETF. This and other important information
about the Fund is contained in the prospectus, which can be
obtained at www.sterlingcaptial.com/ETF or by calling 888.637.7798.
The prospectus should be read carefully before investing. The
Sterling Capital Diverse Multi-Manager Active ETF is distributed by
Northern Lights Distributors, LLC, member FINRA/SIPC. Sterling
Capital Management is not affiliated with Northern Lights
Distributors, LLC.
Not a deposit • Not FDIC insured • May lose value • Not
guaranteed by the bank • Not insured by any government
agency
3181-NLD-12/7/2021
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SOURCE Truist Financial Corporation