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Wednesday, September 29, 2021

A Year-Old Shop Debuts Its 14th ETF

Reported by Neil Anderson, Managing Editor

A year-old, $733-million-AUM (as of yesterday), New York City-based ETF startup's team is rolling out their 14th fund.

Paul Kim
Simplify Asset Management, Inc.
CEO, Co-Founder
Yesterday, David Berns, co-founder and chief investment officer of Simplify Asset Management Inc., unveiled the launch of the Simplify Risk Parity Treasury ETF (TYA on the CBOE BZX Exchange). The new fund mixes U.S. Treasuries and Treasury futures.

The new ETF (which debuted on Monday) comes with an expense ratio of 15 basis points (thanks in part to a 10bps fee waiver that will be in place at least until October 31, 2022). Berns, Paul Kim (Simplify's CEO), and Shailesh Gupta (managing director) are the fund's PMs.

The new fund's service providers include: Bank of New York Mellon (administrator, custodian, fund accountant, and transfer agent); Cohen & Company, Ltd. (independent accounting firm); Foreside Financial Services, LLC (distributor); and Thompson Hine LLP (counsel).

Berns puts the launch in the context of "the current low yield environment," while noting that "all too often efficient Treasury investing requires leverage."

"That's an issue we've designed TYA to solve," Berns states. 

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