Chairman of the Board of Directors for Guinness Atkinson Funds Wins Small Boards Trustee of the Year Award
Fund Intelligence Recognizes Brook Reece for His Leadership in Supporting Guinness Atkinson's Groundbreaking First Mutual Fund to ETF Conversions
PASADENA, Calif., Nov. 17, 2021 /PRNewswire-PRWeb/ -- Guinness Atkinson Asset Management today announced that Brook Reece, the Chairman of the Board of Directors for Guinness Atkinson Funds (Funds), has been named as the Trustee of the Year in Small Boards category during Fund Intelligence 2021 Mutual Fund and ETFs Industry Awards. It recognizes his 27 years of service as a Trustee and Chairman, which includes his leadership during the Board's deliberation and approval of the Fund's groundbreaking first mutual fund to ETF conversions, which were successfully implemented in April of 2021.
The historic conversions this year of the Guinness Atkinson Dividend Builder and Guinness Atkinson Asia Pacific Dividend Builder mutual funds to the SmartETFs Dividend Builder (DIVS) and SmartETFs Asia Pacific Dividend Fund (ADIV), respectively, represented the culmination of a multiyear effort by the Board and investment advisor of Guinness Atkinson Asset management to deliver an innovative solution to better serve current and future shareholders of the strategies.
"I'm honored to accept this award, which I view as a recognition of the entire Board's collaborative effort to understand and implement a solution that was ideal for the shareholders of these funds," said Mr. Reece. "The continuity and deep trust among Board members helped make this effort run smoothly, although much of the credit must also be given to the vision of Jim Atkinson and groundbreaking legal support we received from Alexandra Alberstadt at Practus, LLP."
Mr. Reece highlighted four key benefits that converting to the ETF structure offered shareholders in the former mutual fund vehicles, including: lower costs, more favorable tax treatment, intraday pricing and broader access to brokerage platforms. The Board's primary focus throughout the process was focusing on shareholder protection and ensuring that all shareholders had the ability to easily exchange shares of the mutual fund for the ETF, or if preferred, redeem their shares at no financial cost to them.
Mr. Reece joined the Guinness Atkinson Board in 1994 and serves as Chairman and Trustee. He is an Operating Partner of Stonebridge Partners Small Cap Team since 2018. Previously, he was the CEO of Adcole Corp., from 1989 to 2017. His extensive leadership and international business experience, including in emerging markets, made him an ideal trustee for a globally focused and innovative asset management company, said Guinness Atkinson CEO Jim Atkinson.
"We are grateful to Brook for his tireless and longstanding stewardship of the Board, which dates back to 1994," said Mr. Atkinson. "The continuity among our Board members and their willingness to collaborate with us to innovate on behalf of shareholders, including previously launching new ETFs to market, helped make these historic conversions possible."
Guinness Atkinson previously launched the SmartETFs Smart Transportation & Technology Fund (MOTO), SmartETFs Sustainable Energy II (SULR) and the SmartETFs Advertising & Marketing Technology (MRAD) as part of its SmartETFs family of funds. The converted mutual funds have joined the SmartETFs family of actively managed ETFs, with additional conversions planned in the near future.
The SmartETFs Dividend Builder (DIVS) is an actively managed dividend growth strategy that seeks dividend-paying companies that have provided an inflation-adjusted cash flow return on investment of at least 10% in each of the last 10 years. The fund invests in approximately 35 different dividend paying companies globally. The strategy is managed by Dr. Ian Mortimer and Matthew Page.
The SmartETFs Asia Pacific Dividend Builder ETF (ADIV) is an actively managed dividend strategy focused on investing in dividend-producing stocks of mature companies in the Asia Pacific region. The fund is managed by Edmund Harriss.
About Guinness Atkinson Funds
Guinness Atkinson Funds are designed to help investors capitalize on the profound rate of innovation and change that characterize the 21st century, including long term global trends such as the traditional and alternative energy sources that fuel economic development, the development of emerging Asian markets, and the continually transforming corporate landscape.
About SmartETFs
SmartETFs are managed by Guinness Atkinson Asset Management. Guinness Atkinson was formed in 2002 and began managing the Guinness Atkinson Funds in 2003. The key executives of Guinness Atkinson previously worked together at predecessor companies and the oldest of our eight mutual funds was launched in 1994.
Our portfolio management team is located in London, England. Our US headquarters are in Pasadena, California.
Consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. For a prospectus or summary prospectus with this and other information, please call (866) 307-5990 or visit our website at http://www.SmartETFs.com. Read the prospectus or summary prospectus carefully before investing.
Investing involves risk, including possible loss of principal.
Fund risks: The Fund invests in securities that pay dividends, and there is no guarantee that the securities held by the Fund will declare or pay dividends in the future, or that dividends will remain at current levels or increase. Investments in foreign securities involve greater volatility, political, economic and currency risks and differences in accounting methods. These risks are greater for emerging markets countries. For more information on the risks of investing in this Fund, please see the prospectus.
Shares of the Funds are distributed by Foreside Fund Services, LLC.
Media Contact
Victoria Odinotska, KANTER, +1 7036859232, [email protected]
Jim Atkinson, Guinness Atkinson, (626) 628-2739, [email protected]
SOURCE Guinness Atkinson Funds
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