MALVERN, PA — Pacer ETFs, a leading provider of exchange-traded funds (ETFs), has reported a record-breaking year, with its assets under management (AUM) topping $35 billion as of December 29, 2023. This milestone comes on the heels of surpassing $30 billion in AUM in November and $25 billion in July. Starting the year with $19.6 billion in AUM, Pacer’s growth represents an impressive 78.6% increase in assets throughout 2023.
Sean O’Hara, President of Pacer ETFs, attributed the firm’s stellar performance to its dedicated team and innovative investment strategies. “Our accomplishments this year serve as a testament to our strategies guiding investors and advisors through demanding market conditions, helping them to reach their investing goals,” said O’Hara.
The primary driver of Pacer’s growth was the Pacer Cash Cows ETFTM Series, the firm’s fastest-growing fund family. It was complemented by inflows into other strategies offered by the firm.
In addition to the success of its existing funds, Pacer launched a new fund in May 2023, the Pacer US Small Cap Cash Cows Growth Leaders ETF (NASDAQ: CAFG), expanding its ETF lineup to a total of 47.
Joe Thomson, Founder and President of Pacer, expressed gratitude for the firm’s success. He credited the support of dedicated employees, investors, and partners for making the firm’s achievements possible. “Looking ahead to 2024, we continue to drive forward our growth initiatives and focus on delivering commitment to superior client service and industry-leading product offerings,” said Thomson.
Pacer ETFs’ rapid growth has not gone unnoticed. Its Pacer Cash Cows ETF Series was recognized as ETF Suite of the Year at the 2023 With Intelligence Mutual Fund & ETF Awards. This award is given to the most successful suite of ETFs, evaluated based on factors including flows, performance, innovation, and fund objective.
As Pacer looks ahead to 2024, the company is poised to continue its trajectory of robust growth and superior client service.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.