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, October 18, 2024 In FL, a 44YO Research Shop Floats Its 1st ETF, And ... The team at a 44-year-old investment research and model portfolio shop the Sunshine State are entering the ETF business by powering their first fund. And they're prepping a 2nd ETF, too. This week, the folks at Ned Davis Research (NDR) and Tidal Investments [profile] are rolling out the first NDR-powered ETF, the Ned Davis Research 360° Dynamic Allocation ETF (NDAA on the Nasdaq), and they also filed to launch the Ned Davis Research 360° Core Equity ETF (NDEQ). Sarasota, Florida-based NDR will serve as sponsor and subadvisor for both funds, while Milwaukee-based Tidal will serve as investment advisor. NDAA comes with an expense ratio of 65 basis points, which bakes in a 15bps fee waiver promised through January 31, 2026. NDEQ's expense ratio will also be 65bps, though without getting there via any fee waivers. The inception date for NDAA was Wednesday (October 16). As of yesterday (Thursday, October 17), the new ETF had about $399,610 in AUM. Both funds will be actively managed and powered by NDR's 360° Approach. They will also share the same five-person PM team: Qiao Duan, portfolio manager at Tidal; Amy Lubas, PM at NDR; Ben McCaig, PM at Tidal; Lisa Michalski, PM at NDR; and Brian Sanborn, PM at NDR. NDAA is an ETF-of-ETFs (mainly passive ones), while NDEQ will invest in equities. NDAA and NDEQ will both be series of Tidal Trust III. Their other service providers will include: ACA's Foreside Fund Services, LLC as distributor; Sullivan & Worcester LLP as counsel; Tait, Weller & Baker LLP as independent accounting firm; Tidal ETF Services LLC as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as fund accountant and transfer agent; and U.S. Bank National Association as custodian. Printed from: MFWire.com/story.asp?s=68057 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |