Lyrical Converts Over $1 Billion in Value Equity Mutual Funds to ETFs

Lyrical Asset Management has completed the conversion of two actively managed value equity mutual funds, representing more than $1 billion in combined assets, into ETFs listed on the New York Stock Exchange. The Lyrical U.S. Value Equity ETF (LYR) holds a concentrated portfolio of approximately 33 U.S. companies selected for their attractive valuations, business quality, and long-term earnings growth potential. The Lyrical International Value Equity ETF (LYRI) applies a similar strategy to 25–40 large-cap companies across developed markets outside the U.S. Both funds retain their existing investment teams and strategies, which date back to 2009 and 2019, respectively. The conversions, structured to be tax-free for existing shareholders, aim to provide greater tax efficiency, portfolio transparency, intraday liquidity, and lower expenses while expanding access to Lyrical's value-focused strategies.