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Rating:$2B In AUM and 10 ETFs In Less Than a Year Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 1, 2023

$2B In AUM and 10 ETFs In Less Than a Year

Reported by Neil Anderson, Managing Editor

The folks at a four-year-old, multi-boutique asset manager are celebrating a big milestone for their first suite of ETFs, shortly before reaching the suite's one-year anniversary.

Alexander Robert "Alex" Morris
F/m Investments
President, Chief Investment Officer
Yesterday, Alex Morris, president and chief investment officer of F/m Investments LLC [profile], confirmed that its US Benchmark Series ETF suite has surpassed $2 billion in AUM, less than two months after crossing the $1-billion-AUM milestone. The suite now includes 10 single-security ETFs, each of which invests in a different tenor of U.S. Treasury securities, ranging from 3-month bills all the way up to 30-year bonds.

F/m's North Slope Capital LLC serves as the funds' investment advisor. They are PMed by Morris, Marcin Zdunek (director of trading and assistant portfolio manager at F/m), and Peter Baden (CIO of F/m's Genoa Asset Management LLC), and the funds track indexes from ICE Data Services. The expense ratio for all of the funds is 15 basis points.

"The rapid growth of the US Benchmark Series over the course of the first 11 months since launch proves how necessary this product line is for investors," Morris states. "We are pleased to have created the US Benchmark Series in time to both meet investors' needs for precise treasury solutions with ETF ease and capture material yields across the curve."

The US Benchmark Series' $2-billion-AUM milestone comes about six months after F/m was acquired by another multi-boutique asset manager, Diffractive Managers Group.

The F/m team launched the first three US Benchmark Series ETFs on August 9, 2022. The funds are series of the RBB Fund, Inc. and trade on the Nasdaq. The funds' other service providers include: Cohen & Company, Ltd. as independent accounting firm; Faegre Drinker Biddle & Reath LLP as counsel; Quasar Distributors, LLC as distributor and underwriter; U.S. Bank, N.A. as custodian and securities lending agent; and U.S. Bank Global Fund Services as administrator and transfer agent. 

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