LOUISVILLE, KY (Wednesday, May 4, 2016) – Churchill Downs Racetrack announced today a new partnership with Spirited Funds, LLC, an investment management company that specializes in thematic investible indexes focused on the spirits industry.
Spirited Funds has applied to the federal Securities and Exchange Commission (SEC) for approval to market an investment product. The company intends to launch what its founder describes as “premier bourbon and whisky investible indices,” once SEC approval is obtained. He said indices can provide a way for investors to gain exposure to the asset class which an index follows, through mutual funds, exchange-traded funds, or ETFs, and options which are created to track the index. Such funds will offer potential investors a tangible way to actively participate in the $300 billion international spirits industry, an opportunity that has never before been available. As market leaders, Spirited Funds is making it possible for investors interested in this growing sector to add it to their portfolio.
“Given that bourbon is Kentucky’s history in a bottle and horse racing is Kentucky’s history on the track, combining the two heritage products has been a natural fit,” said President & CEO of Spirited Funds, LLC, David Bolton. “One seemed incomplete without the other given that Kentucky produces roughly 95% of the world’s bourbon and its Kentucky heritage ties it closely with Churchill Downs.”
To create the two indices, Spirited Funds has partnered with ETF Managers Group, which will provide the way for investors to participate in the index through financial tools such as mutual funds, exchange trading funds (ETFs) and other options created to track the index.
The partnership also includes a brand ambassadorship with legendary jockey Gary Stevens, who will be aboard Mor Spirit for the 142nd running of the Kentucky Derby®. Said Stevens, “It’s a perfect match and I am looking forward for the opportunity of putting the whole team in the Winners Circle on Derby Day.”
“It is exciting to see two world legacies straight from the heart of Kentucky converge,” said Churchill Downs Vice President of Partnerships, Kristin Warfield. “This partnership was built on the unique combination of heritage and innovation that are the hallmarks of our two organizations.”
About Churchill Downs Racetrack
Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, the Kentucky Derby, continuously since 1875. Located in Louisville, the flagship racetrack of Churchill Downs Incorporated (NASDAQ: CHDN) offers year-round simulcast wagering at the historic track. Churchill Downs will conduct the 142st running of the Kentucky Derby Presented by Yum! Brands on May 7, 2016. The track’s 2016 Spring Meet is scheduled for April 30-July 2. Churchill Downs has hosted the Breeders’ Cup World Championships eight times. Information is available at www.ChurchillDowns.com.