MutualFundWire.com: A 104YO Boutique Goes Inside the ETF Space? COPY!

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Wednesday, October 9, 2024

A 104YO Boutique Goes Inside the ETF Space? COPY!

The folks at a 104-year-old, $8.6-billion-AUM (as of June 30), value equity boutique are preparing to launch their first ETF.

Jason Jeffrey Minard
Tweedy, Browne Company LLC
Managing Director, Head of Client Services

On Friday (October 4), the team at AMG's Tweedy, Browne Company LLC filed to create the Tweedy, Browne Insider + Value ETF (COPY on the NYSE). Stamford, Connecticut-based Tweedy will serve as the planned ETF's investment advisor while Oklahoma City, Oklahoma-based Exchange Traded Concepts, LLC (ETC) will serve as subadvisor, and on Monday (October 7) Tweedy managing directors Jason Minard and John Spears confirmed that the $30-billion-AUA RBB Fund Complex will also support COPY.

The Tweedy team has not revealed the planned timing of the launch, though the filing indicates that they expect COPY to debut by the end of this year. The filing also suggests that an independent accounting firm has not yet been officially selected for the new fund.

COPY will be an actively managed, diversified, value equity ETF and a series of the RBB Fund Trust. The new fund will come with an expense ratio of 80 basis points.

Per the filing, COPY's portfolio management team will include Tweedy's seven investment committee members, all of whom are managing directors: Roger de Bree, Andrew Ewert, Frank Hawrylak, Thomas Shrager, Robert Wyckoff, and Spears.

Minard, who serves as Tweedy's head of client services, says that they are trying "to address the growing demand for value-oriented investment options in these innovative investment vehicles."

"Entering the ETF space is a natural extension of our business and affords taxpaying investors access to our actively managed strategies within a tax-efficient ETF structure," Minard states.

Spears describes launching COPY as offering investors to "the 'insider's edge,' the the unique insight that high-ranking corporate executives and informed directors can have regarding the prospect for improvement of their company's condition and share price."

COPY's other service providers will include: Faegre Drinker Biddle & Reath LLP as counsel; ACA Foreside's Quasar Distributors, LLC as distributor; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator, dividend disbursing agent, and transfer agent; and U.S. Bank, N.A. as custodian.

Printed from: MFWire.com/story.asp?s=68015

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