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 |
|
Thursday, April 4, 2024 In NYC, a $599MM-AUMA Team Adds ETF #3 Within a Midwestern firm, a $599-million-AUMA (as of December 31) Gotham team is rolling out their third ETF.
SAMM is a series of the Advisors' Inner Circle Fund III. The new fund's inception date was yesterday, and it comes with an expense ratio of 66 basis points. (That bakes in a 46bps fee waiver promised through April 30, 2025.) Strategas AM serves as SAMM's investment advisor, and Vident Asset Management serves as subadvisor. The new ETF's PM team includes: Verrone and Nicholas Bohnsack, president and CEO of Strategas AM and president and chief operating officer of Strategas Securities, as lead portfolio managers: Austin Wen, PM at Vident, and Rafael Zayas, senior vice president and head of portfolio management and trading at Vident, as PMs; and Gerald Hendricks, director and senior portfolio analyst at Strategas AM, and Todd Sohn, managing director of technical and ETF research at Strategas Securities, as co-PMs. Strategas AM's first two ETFs debuted in January 2022, and they had more than $104 million in combined AUM as of yesterday. Like those first two Strategas ETFs, SAMM is an active, thematic fund. Trennert describes SAMM as "a one-of-a-kind actively managed ETF designed to identify the 'investable conclusion' from the often complex and interdependent variables affecting the global economy." "SAMM is the most tactical offering our suite of ETF products," Verrone states, describing the new fund as "designed to be more sensitive to the current market cycle — seeking and exploiting the market's momentum impulse wherever it's found." "Taking an active approach is key to bringing these investment approaches to market in the most robust way and allows us to leverage insights and expertise from across our industry-leading macro research team," Trennert states. SAMM's other service providers include: Brown Brothers Harriman & Co. as custodian and transfer agent; Ernst & Young LLP as independent accounting firm; Morgan, Lewis & Bockius LLP as counsel; SEI Investments Distribution Co. as distributor; and SEI Investments Global Funds Services as administrator. Printed from: MFWire.com/story.asp?s=67250 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
