The fund-to-ETF train appears to be leaving the station.
On May 7, 2021, the Adaptive Growth Opportunities Fund became the Adaptive Growth Opportunities ETF.
At some time in the third quarter of 2021, Water Island Long/Short Fund will become the AltShares Event-Driven ETF. That’s a more convoluted change since the fund will change Continue reading
A Gold medal for T. Rowe Price: Morningstar has upgraded their assessment of T. Rowe Price’s Retirement Series funds to Gold, their highest endorsement. It’s an endorsement we share. Twenty-four of T. Rowe Price’s funds – including many of the retirement date funds – earn our “Great Owl” designation for consistently top-tier risk-adjusted-performance. We have recognized the firm Continue reading
On March 26, 2021, Guinness Atkinson Asia Pacific Dividend Builder Fund (GAADX) and the Guinness Atkinson Dividend Builder Fund (GAINX) were converted into ETFs.
Following the model pioneered by GA, Adaptive Fundamental Growth Fund, Adaptive Hedged High Income Fund, Adaptive Hedged Multi-Asset Income Fund, Adaptive Tactical Outlook Fund, and Adaptive Tactical Rotation Fund are being converted into the Adaptive Fundamental Growth ETF, Adaptive Hedged High Income ETF, Adaptive Hedged Multi-Asset Income ETF, Adaptive Tactical Outlook ETF, and Adaptive Tactical Rotation ETF, respectively.
DFA, the other firm Continue reading
On the value of actual human intelligence: The decade’s biggest fund scandal broke on Monday when the SEC accused the advisor of Infinity Q Diversified Alpha Fund (IQDNX) of “adjusting the methodology for obtaining certain asset valuations.” James Velissaris, founder and CIO, was placed on administrative leave while the investigation continues.
The remnants of the fund’s website describe it this Continue reading
Eric Heufner, president of Grandeur Peak Global, shares the sad news of the death on January 21, 2021, of one of his colleagues.
It is with great sadness that we announce the death of our dear friend and colleague, Keefer Babbitt. Keefer was not only a great partner and friend, he also set the bar extremely high as it relates to his work. His character, work ethic, depth of thought and the quality of his output were greatly admired by all of us at Grandeur Peak. Keefer joined Grandeur Peak in 2012 as one of our first interns, and over the past 8+ years he has been a true builder of our firm. He made an enormous difference here and he will be greatly missed.
Keefer’s current roles included co-managing the Global Contrarian Fund alongside Mark Madsen and Robert Gardiner, co-managing the Global Reach Fund with six other portfolio managers, contributing on our Industrials team, and of course first and foremost serving as a global research analyst. Given our unique team-based approach, we do not anticipate making any immediate changes to the portfolio management of either fund.
Bill Gross must be very sad today. Mr. Gross has been involved in an ugly dispute with a neighbor. As part of that dispute, Mr. Gross played The Gilligan’s Island theme, loudly and continuously, night after night. The neighbor complained. In court. Mr. Gross’s partner, Amy Schwartz, testified to loving the “Gilligan’s Island” theme but denied playing it loud or Continue reading
Guinness Atkinson’s groundbreaking OEF-to-ETF conversion is surging ahead. In early summer, GA filed a plan to convert two of their current funds – the four-star Dividend Builder GAINX and Alternative Energy GAAEX – directly into ETFs. Other firms have launched ETF clones of their funds, and a bunch of strategies that would normally have been launched as funds have instead followed the non-transparent, active ETF route. Guinness was the only firm bold enough to try a switchover mid-flight.
The conversions were slowed by “a thousand thoughtful questions and comments” from the SEC, according to president Jim Atkinson. In the latest round of comments, the agency has asked GA to begin incorporating concrete Continue reading
PIMCO Emerging Markets Currency and Short-Term Investments Fund (PLMAX) is coming back from the dead.
Last month, PIMCO announced its intention to close the $600 million fund on November 20 and liquidate it by January 7, 2021. Morningstar benchmarks it against their global long/short currency group, which is Continue reading
FPA has filed to launch FPA Queens Road Small Cap Value Fund. As we noted a couple of months ago, Bragg Capital, an adviser to the Queens Road Funds, entered into an agreement with FPA to have FPA take responsibility for marketing the funds. That allowed FPA to leverage their marketing group and allowed Bragg to focus on running two really exceptional funds: Value and Small Cap Value. This partnership is likely a substantial win for all involved, investors and advisors alike.
FPA, meanwhile, will no longer be managing the Continue reading
As of August 13, 2020, SouthernSun Asset Management bought Affiliated Managers Group’s interest in SouthernSun. As a result, SouthernSun is no longer affiliated with AMG; it’s now wholly owned by its employees.
AdvisorShares Vice ETF (ACT) has amended its prospectus to allow that “companies that derive at least 50% of their net revenue from the food and beverage industry” are sinful while, at the same time, “the Fund will no longer invest in cannabis or Continue reading