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 |
|
Friday, May 17, 2024 A $314MM-AUM Quartet Trades For a New Brand, And ... The team at a fund firm near New York City is launching a new fund family, starting with a $314-million-AUM quartet of their existing ETFs. Watch for them to further update three of those funds this summer.
"We've paid close attention to the changing demands of the trading community and launched the Tradr ETFs brand to better serve them with sharper tools to executive their investment views," Bassuk states. As TSLQ, SARK, NVDS, and TARK's new names launched on Wednesday, Matt Markiewicz, head of product and capital markets at Tradr ETFs, revealed plans to further tweak NVDS, SARK, and TSLQ this summer. TSLQ will become the Tradr 2X Short TSLA Daily ETF, targeting twice the inverse of the daily return of Tesla. SARK will become the Tradr 2X Short Innovation Daily ETF, targeting twice the inverse of the ARKK ETF's daily returns. And NVDS will become the Tradr 1.5X Short NVDA Daily ETF, targeting 1.5 times the inverse of Nvidia's daily returns. All three leverage increases and rebrandings are scheduled for July 15. "The new targets address growing demand among traders for higher leverage multiples to amplify exposure to actively traded single stocks and ETFs," Markiewicz states. "These leverage increases are just the tip of the iceberg for Tradr. All four of Tradr's starting ETFs remain series of Investment Managers Series Trust and remain listed on Nasdaq. AXS Investments LLC remains their investment advisor, and their PM team continues to be Parker Binion (an AXS portfolio manager) and Travis Tampe (managing director of portfolio management). (Tampe and Binion have PMed NVDS, TARK, and TSLQ since inception.) SARK first debuted on November 5, 2021 as the Tuttle Capital Short Innovation ETF, before being adopted by AXS in 2022 and switching names. The fund now has about $111.6 million in AUM. It comes with an expense ratio of 75 basis points, including a 26bps fee waiver promised through August 5, 2024. TARK launched on May 2, 2022. The fund now has about $55.8 million in AUM. It comes with an expense ratio of 115bps, including a 28bps fee waiver promised through July 31, 2024. TSLQ debuted on July 13, 2022. The fund now has about $98.3 million in AUM. It, too, comes with an expense ratio of 115bps, including a 6bps fee waiver promised through July 31, 2024. NVDS also launched on July 13, 2022. It, too, comes with an expense ratio of 115bps, including a 66bps fee waiver promised through July 31, 2024. The four initial Tradr ETFs' other service providers include: SS&C's Alps Distributors, Inc. as distributor; Brown Brothers Harriman & Co. as custodian, fund accounting agent, and transfer agent; Morgan, Lewis & Bockius LLP as counsel; Mutual Fund Administration, LLC (MFAC) as co-administrator; Tait, Weller & Baker LLP as independent accounting firm; and UMB Fund Services, Inc. (UMBFS) as co-administrator. Printed from: MFWire.com/story.asp?s=67434 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
