MutualFundWire.com: A 14-Year-Old Income Strat Powers a New ETF

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Wednesday, September 6, 2023

A 14-Year-Old Income Strat Powers a New ETF

A multi-boutique asset manager's team is rolling out an ETF version of a 14-year-old fixed income strategy.

Alexander Robert "Alex" Morris
F/m Investments
President, Chief Investment Officer

Today, Alex Morris, chief investment officer of F/m Investments LLC [profile], and Peter Baden, chief investment officer of F/m affiliate Genoa Asset Management, unveil the launch of the F/m Opportunistic Income ETF (XFIX on the Nasdaq). The new, actively managed ETF is a series of the RBB Fund, Inc., and the new fund is powered by the F/m Genoa Opportunistic Income strategy that the Genoa team has long offered as an SMA.

XFIX comes with an expense ratio of 39 basis points. That compares with 35bps for the SMA, which has a minimum initial investment of $250,000 and powered $56.2 million in AUM as of June 30.

F/m's North Slope Capital, LLC serves as the new ETF's investment advisor. XFIX's PM team includes: Baden; Justin Hennessy, director of portfolio management at Genoa; and Marcin Zdunek, director of trading and assistant portfolio manager at Genoa. Baden and Hennessy also PM the SMAs, and the strategy's inception date was September 1, 2009.

"My portfolio management team and I will follow the same process in the ETF that has served our SMA clients since 2009," Baden states. "We believe we are well positioned to continue taking advantage of macroeconomic shifts that can create attractive fixed income investment opportunities."

The launch of XFIX comes about a year after the F/m team launched their first ETFs and about a month after their first ETF series crossed a big AUM milestone.

The new ETF's 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. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator and transfer agent; and U.S. Bank, N.A. as custodian and securities lending agent.

Printed from: MFWire.com/story.asp?s=66399

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