A new business-cycle-focused fund shop in Walnut Creek, California is preparing to launch its first ETF. Pring Turner Capital Group
will manage the Dow Jones Business Cycle ETF
, part of the AdvisorShares Trust, which the firm expects to launch later this year. [SEC filing
The fund will be PMed by Pring Turner co-founder Joe Turner
and co-PMs Tom Kopas
and Jim Kopas
In an interview with 401kWire
, Tom Kopas said that the fund grew from the Dow Jones Pring U.S. Business Cycle Index
, developed by Dow Jones and firm co-founder Martin Pring, which launched in March. Kopas said that Pring, who has published several books on technical analysis and has written a monthly newsletter
for over twenty years, was approached by Dow Jones to develop an index based on Pring's research into the business cycle.
Their index, Dow Jones' first business-cycle index, is dynamic -- the allocation between stocks, bonds, and cash changes depending on the stage of the business cycle -- and the new fund's managers will rely on a similar strategy with the ETF. Kopas said that this is the same basic strategy that Pring Turner has been using since its founding in 1977.
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