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Rating:Wanna Buy an ETF Exemption? Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 02, 2014

Wanna Buy an ETF Exemption?

Reported by Tommy Fernandez

FOR SALE: Burgeoning fund shop that has recently received approval from the SEC to launch active ETF products. However, this shop has no ETFs yet.

The shop for sale is Gencap Strategies, which received SEC approval in August to develop active ETFs. It is being sold by Esposito Private Equity Group.

Gencap has yet to receive SEC registration as an investment advisor, and does not yet manage any funds or has any assets under management. However, the shop's exemption allows it "to sponsor actively managed ETFs that invest in foreign and domestic equity and fixed income securities, as well as derivatives."

"It is a long and costly process to get SEC approval," EPEG executive Jared Behnke told MFWire.

Gencap Strategies was part of a set of properties that Esposito owned in the ETF space, including Gencap Ventures. Esposito was able to buy ETF sponsor Factor Advisors by way of Gencap Ventures in 2012. Factor was sold in November to Exchange Traded Managers Group.

Meanwhile, EPEG continues maintains a number of firms that still operate in or near the mutual fund space. Esposito Securities is a FINRA-registered broker dealer which provides global equity trading services. Esposito Partners is a SEC registered Investment Advisor offering Sub-Advisory and ETF solutions.

For more information on Gencap Strategies, contact Behnke at jaredbehnke@gmail.com or (646)320-3680. 

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