Just a handful of new funds were registered with the SEC this month, perhaps in response to the disruption caused by the government shutdown which affected the SEC. In any case, we’ve chosen to highlight just two funds from that list; both are guided by first-rate managers whose long careers and other funds should engender considerable interest and respect. Continue reading
Before funds can be offered to the public, they’ve got to be submitted to the SEC which has 70 days to review the application. In general, advisers try to launch just before years end because that allows them to have clean “year to date” and calendar year results to share. These launches will likely occur in late February or March.
Many prospectuses were still incomplete but a couple stand out for offering services from well-respected advisors: Diamond Hill, which has a Continue reading
Before funds can be offered to the public, they’ve got to be submitted to the SEC which has 70 days to review the application. In general, advisers try to launch just before years end because that allows them to have clean “year to date” and calendar year results to share. That means that funds hopeful of launching by December 30th needed to be filed by October 15th. Since few firms are interested in launching funds in late January or early February, this month’s filings are not-surprisingly thin. On face, the most promising is likely an actively-managed ETF from a team with a strong track record in funds: Virtus Seix Senior Loan ETF.
AB Multi-Manager Select 2060 Fund will seek highest Continue reading
The managers seek long-term capital appreciation by investing in a concentrated portfolio of 30-40 mid and large capitalization companies over $2.0B that use sustainable business strategies (SBA) to drive future earnings growth.
They focus on finding companies whose Continue reading
The managers seek long-term growth of capital favorable to its benchmarks with lower risk – specifically companies with 12-15% earnings growth potential for at least three years. They typically hold 40-60 SMid stocks whose valuations are attractive relative to their growth prospects. SMid caps have market capitalizations between $250 million and $12 billion, and are generally within the range of those in the Russell 2500 Growth Index.
Continue reading
VanEck has registered a launch a video-gaming and e-sports ETF, which strikes me as silly in the extreme but at least doesn’t include cryptocurrencies. “Silly in the extreme” means we’re not saying anything more about it. Happily, a bunch of really solid offerings – a new Litman Gregory, a bond fund run by ex-PIMCO guys, an emerging markets offering from LSV and the ETF version of several four-star funds – were filed at the same time. All of these funds and active ETFs are likely available by the end of September. Continue reading
At the time of publication, this fund was named Index Funds S&P 500® Equal Weight.
The fund equally weights all of the stocks in the S&P 500 index and rebalances its portfolio quarterly.
The Index Group, headquartered in Colorado Springs, Colorado. While they are legally permitted to Continue reading
Lately, new fund and active ETF launches have been rare – only seven new retail funds launched in the first five months of 2018 – and occasionally silly. Last month saw a registration filing for an active “pet parents” fund; this month saw a filing for a passive “pet care” ETF. You need neither (and should avoid both), so we’ll say no more about them. While this is a slow month for new fund registrations, at least it’s not a silly one. In the main, these funds will be available for purchase by August 1.
Adler Value Fund, will seek Continue reading
The Opportunity Fund seeks capital appreciation. They apply a value-oriented discipline to micro-, small- and mid-cap stocks in the US and other developed markets. In general, the managers look for companies with long, consistent, predictable track records of free cash flow yield generation and healthy organic growth. They identify undervalued securities by starting with balance sheet strength but they also consider qualitative factors (e.g., quality of the management) and the presence of a Continue reading
Proposed new funds and ETFs have to be submitted for review by the Securities and Exchange Commission, which has 75 days to raise any concerns. During those 75 days, the so-called “quiet period,” advisors are forbidden from discussing the fund in registration. Advisors hoping for a fund launch by New Years have their funds in registration by October; those seeking a mid-year launch get the papers filed in April. A lot of the filings were rushed and incomplete. That said, the BBH and Metropolitan West income funds are apt to be entirely reasonable additions; for income-seeking investors, they bear Continue reading