MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, February 14, 2023 A $190B-AUMS Firm Launches a Multi-Strat Alts Fund The team at a $190-billion-AUMS (as of December 30), Midwestern asset manager is rolling out a new alts fund.
LALT is a non-diversified, actively managed ETF of ETPs (including other ETFs). Its inception date was January 31, and as of yesterday it had nearly $999,000 in AUM. It comes with an expense ratio of 123 basis points. First Trust Advisors serves as LALT's investment advisor, and First Trust Portolios L.P. serves as distributor. The new fund's PM team includes: John Gambla, SVP and co-head of First Trust's alternatives investment team; Rob Guttschow, SVP and co-head of the alternatives investment team; Daniel Lindquist, chairman of the investment committee and managing director; David McGarel, chief investment officer, chief operating officer, and managing director; and Chris Petersen, SVP and head of research strategy. Issakainen puts the launch in the context of rising demand for alts in light of a volatile 2022 for both equities and fixed income. "We believe this ETF may bee an effective tool for investment professionals seeking to diversify client portfolios while also potentially generating returns from multiple alternative risk premiums in the years ahead," Issakainen states. The new fund's other service providers include: Bank of New York Mellon as administrator, custodian, and fund accounting and transfer agent; and Chapman and Cutler LLP as counsel. Printed from: MFWire.com/story.asp?s=65588 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
