New York Life Investment Management Announces Launch of International Small-Mid Cap Equity ETF (NISM)

Actively managed ETF seeks to uncover overlooked growth opportunities across non-U.S. small and mid-cap equities

NEW YORK--(BUSINESS WIRE)--New York Life Investment Management today announced the launch of the NYLI International Small-Mid Cap Equity ETF (NYSE:NISM), designed to provide investors with access to high-quality small- and mid-cap companies outside of the United States.

The fund is managed by New York Life Investment Management LLC with Ausbil Investment Management Limited, a specialist active equity manager within New York Life’s network of boutique asset managers, serving as subadvisor.

NISM seeks long term growth of capital by investing primarily in a diversified portfolio of 50 to 100 non-U.S. companies with market capitalizations ranging from approximately $500 million to $35 billion. The fund employs a four-stage investment process that integrates macroeconomic analysis, regional and sector allocation, bottom-up stock selection, and risk-aware portfolio construction.

The new approach builds on Ausbil's established global small cap strategy, targeting market inefficiencies by investing in quality companies with overlooked growth potential and attractive valuations, supported by disciplined qualitative, quantitative, and risk management processes.

“At a time when many investors are looking beyond both the U.S. and the universe of large-cap companies, we believe international small and mid-cap equities offer a compelling opportunity set,” said Kirk Lehneis, Head of U.S. Retail at New York Life Investment Management. “NISM is designed to help investors access that opportunity through a disciplined, research-driven approach that prioritizes quality and long-term growth.”

Ausbil manages more than $20 billion AUD across Australian and global equities. Portfolio management will be led by Tobias Bucks and Simon Wood, CFA, members of Ausbil’s Global SmallCap team, who bring deep experience in investing in small- and mid-cap equities worldwide.

“Our investment philosophy is rooted in the belief that unrecognized earnings growth ultimately drives share prices,” said Tobias Bucks, Portfolio Manager, Ausbil Global SmallCaps. “By combining top-down macro insights with fundamental research, we aim to build a high-conviction portfolio of companies that we believe are positioned to outperform over time.”

For more information on the fund and on New York Life Investment Management’s full suite of ETF offerings, as well as insights and commentary on inflation and the current market environment, please visit our website here.

About New York Life Investment Management

With approximately $807 billion* in assets under management as of March 31, 2026, New York Life Investment Management is a Pensions & Investments' Top 30 Largest Money Manager** and one of the largest active asset managers globally, with leading positions across both public and private markets. Comprised of the affiliated global asset management businesses of New York Life Insurance Company, New York Life Investment Management is committed to achieving enduring financial outcomes and building long-term partnerships across market cycles and generations. Our specialized, independent investment teams bring disciplined active management and deep expertise to help clients navigate the next era of investing.

“New York Life Investment Management” is the brand name and service mark used to represent a group of affiliated investment advisers of New York Life Insurance Company: Andera Partners, Apogem Capital LLC, Ausbil Investment Management Limited, Bow River Asset Management, LLC, Candriam S.C.A., Kartesia Management S.à r.l., MacKay Shields LLC, New York Life Investment Management LLC, NYL Investors LLC, and Tristan Capital Partners LLP.

*Assets under management (AUM) includes assets of the investment advisers that make up “New York Life Investment Management” as of 3/31/2026. AUM includes certain assets, such as nondiscretionary AUM, external fund selection, and overlay services, including ESG screening services, advisory consulting services, white labeling services, and model portfolio delivery services, that are not necessarily considered Regulatory Assets Under Management according to the SEC’s Form ADV. AUM is reported in USD. AUM not denominated in USD is converted at the spot rate as of 3/31/2026.

The total AUM figure for “New York Life Investment Management,” as a brand, is less than the sum of the AUM of each affiliated investment adviser in the group because it does not count AUM where the same assets can be counted by more than one affiliated investment adviser. In addition, AUM includes assets of certain, but not all, investment advisers affiliated with New York Life Insurance Company and excludes assets managed by Andera Partners and Bow River Asset Management, LLC. AUM is based on estimates and is subject to change.

**New York Life Investment Management ranked 28th largest institutional investment manager in Pensions & Investments' Largest Money Managers 2025 published June 2025, based on worldwide institutional AUM as of Dec. 31, 2024. No direct or indirect compensation was paid for the creation and distribution of this ranking.

About Ausbil Investment Management Limited

A leading Australian investment manager with its core business being the management of Australian and global equities for major pension funds, institutional investors and retail clients, with offices in the five major cities of Australia.

Ausbil’s broad investment philosophy is that active management of portfolios facilitates consistent and risk-controlled outperformance. Rather than focusing just on growth or value investing, our investment approach allows us to exploit the inefficiencies across the entire market, at all stages of the cycle, across all key segments by market cap, and across all market conditions.

DISCLOSURES

About Risk: Investments involve risk, including possible loss of principal. As a new fund, there can be no assurance that the Fund will grow to or maintain an economically viable size. Like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time. This impact may be positive or negative, depending on the direction of market movement during the period affected.

Small- and/or mid-capitalization companies may be more vulnerable to adverse general market or economic developments, and their securities may be less liquid and may experience greater price volatility than larger, more established companies. Investments in foreign securities involve additional risks compared to U.S. investments, including greater market volatility, less reliable financial information, higher costs, foreign taxes, and lower liquidity. Political, economic, and regulatory developments abroad may also adversely affect investments, including restrictions on market access or the ability to repatriate assets. These risks may be more pronounced in emerging markets.

Shares are bought and sold at market price and may trade at a premium or discount to net asset value, and investors may incur brokerage commissions and bid-ask spreads.

Before investing, investors should carefully consider the investment objectives, risks, charges, and expenses of the investment company. This and other important information are contained in the prospectus and, if available, the summary prospectus, which may be obtained by visiting https://dfinview.com/NYLIM or by contacting your financial professional. Investors should read the prospectus and, if available, the summary prospectus carefully before investing.

Securities distributed by NYLIFE Distributors LLC, 30 Hudson Street, Jersey City, NJ 07302, Member FINRA/SIPC.