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, April 9, 2024 A $7.7B-AUM AM Enters the ETF Biz The folks at a $7.7-billion-AUM (as of March 31) fixed income asset manager in Illinois are entering the ETF space. This morning, Sean Dranfield, CEO and principal of PT Asset Management, LLC (PTAM [profile]), and Taylor Huffman, client portfolio manager, unveiled the launch of the Performance Trust Short Term Bond ETF (STBF on the Cboe BZX Exchange, Inc.). The new, actively managed fund is the Chicago-based firm's first ever exchanged-tradd fund. STBF is a series of Trust for Professional Managers, and the ETF's inception date is today. It comes with an expense ratio of 66 basis points. PTAM serves as investment advisor to the new fund. Its five-person PM team includes: Lars Anderson as PM; Anthony Harris as senior PM; Michael Isroff as PM; Mark Peiler as PM; and Michael Plaiss as senior PM. The fund is powered by PTAM's proprietary Shape Management investment methodology. Dranfield describes the launch of STBF as marking "a significant milestone for PTAM." "We're thrilled to offer access to ... Shape Management, now available in an investor preferred, tax-efficient ETF wrapper," Dranfield states. According to Huffman, "Typical short-term bond funds leave much to be desired." "Our new ETF addresses this through its diversified portfolio that spans the full spectrum of fixed income sectors, including CLOs, Auto ABS, Municipals, and CMBS," Huffman states. STBF's other service providers include: Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; Godfry & Kahn, S.C. as counsel; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator, dividend disbursing agent, fund accountant, and transfer agent; and U.S. Bank National Association as custodian. Printed from: MFWire.com/story.asp?s=67268 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |