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Tuesday, May 16, 2023|
A Florida CPA/RIA Enters the ETF Biz
A Florida CPA and RIA is entering the ETF buziness, teaming up with an ETF-in-a-box shop to power his first fund.
On Thursday, Raymond Bridges, managing director and founder of Bridges Capital LLC, unveiled the launch of the Bridges Capital Tactical ETF (BDGS on the Nasdaq). The new fund is a series of the EA Series Trust (fka the Alpha Architect Series Trust).
BDGS' inception date was May 11, and it comes with an expense ratio of 78 basis points. As of today, it has $11.54 million in AUM.
Empowered Funds, LLC (dba EA Advisers, aka ETF Architect) will serve as BDGS' investment advisor. Ft. Lauderdale, Florida-based Bridges Capital will serve as subadvisor.
Raymond Bridges will PM BDGS. The actively managed ETF will be powered by a long-only, focused, tactical, opportunistic equities strategy. Raymond Bridges describes seeing "an overwhelming demand for active management that goes well beyond plain vanilla 'buy and hold' strategies."
"Our hands-on approach is rooted in opportunism when conditions are right and the ability to play defense during periods of stress through capital preservation," Bridges states.
BDGS' other service providers include: Practus, LLP as counsel; Quasar Distributors, LLC as distributor; Spicer Jeffries LLP as independent accounting firm; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services as administrator, fund accountant, and transfer agent; and U.S. Bank National Association oas custodian and securities lending agent.
Printed from: MFWire.com/story.asp?s=65971
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