On Tuesday, Leatherback Asset Administration, in partnership with Tidal ETF Companies, launched its
On Tuesday, Leatherback Asset Administration, in partnership with Tidal ETF Companies, launched its first ETF: the Leatherback Lengthy/Quick Different Yield ETF (LBAY).
LBAY is an actively managed various yield technique that gives an economical, liquid, and tax-efficient means for traders so as to add a high-quality allocation with focused month-to-month distributions to their respective portfolios.
Managed by Leatherback, founder and 20-year veteran of the mutual fund and various asset administration trade, Michael Winter, LBAY holds lengthy positions in fairness securities and different publicly traded devices that seem well-positioned to hunt enticing yields to shareholders.
On the identical time, the Fund will search to determine idiosyncratic alternatives the place a safety’s value could also be poised to say no and can construct “quick” positions as decided by the Fund’s administration. Moreover, the Fund might write coated calls when Leatherback believes name premiums are enticing relative to the worth of the underlying securities.
The Lengthy And The Quick Of It
Over the course of Winter’s greater than twenty years in funding administration, he has overseen each hedge fund and mutual fund automobiles, with a selected give attention to constructing efficient lengthy/quick methods.
“I’m thrilled to be bringing our first ETF to market. LBAY represents the kind of dynamic, modern, energetic strategy that traders of every type ought to have out there to them, however which for too lengthy have been reserved for establishments and accredited traders,” mentioned Mr. Winter.
He continues, “With bond yields at historic lows, traders are wanting elsewhere for the earnings they want. Passive methods too typically include misunderstood or misattributed dangers, and energetic methods in a mutual fund or hedge fund wrapper burden traders with onerous lockups and excessive charges. With LBAY, traders now have a strong software for including various yield to their portfolios, guided by skilled energetic administration.”
LBAY trades on the NYSE and has a administration charge of 0.95 p.c and a complete annual fund working expense of 1.09 p.c.
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