ARK Transparency ETF will liquidate on or about July 26. Poster/Contributor Yogibear noted that the official reason for the closure was due to the Transparency Index provider, Transparency Global, discontinuing the index utilized for the ETF. ARKK was unable to find a replacement. The ETF was launched approximately eight months ago when it commenced operations on December 8, 2021.
Champlain Emerging Markets Fund was closed to Continue reading →
Note to our readers:
On June 3, AlphaCentric and Garrison Point, investment advisor and sub-advisor respectively, to the AlphaCentric Income Opportunities Fund, were fined by the SEC for failing to implement its compliance policies and procedures concerning its role in valuing fund securities. From May 2015 through July 2015 and from January 2017 through February 2019, AlphaCentric failed to implement policies requiring it to assist with the process of determining the fair value of the fund holdings. According to the order, Continue reading →
Allianz Global Investors admitted to one count of criminal securities fraud in relation to its Structured Alpha Funds. This admittance resulted in a 10-year ban on Allianz advising on any mutual funds in the U.S.
AllianzGI has agreed to pay more than $1 billion in penalties and $5 billion in compensation to investors. The Structured Alpha funds suffered huge losses during the Covid episode in March 2020. The funds offered complex hedge strategies that were intended to Continue reading →
Artisan Partners launched its Artisan Global Unconstrained and Artisan Emerging Markets Debt Opportunities Funds on April 7. Michael Cirami will be the Lead Portfolio Manager while Sarah Orvin will serve as the Portfolio Manager of both funds. Both Mr. Cirami and Ms. Orvin previously worked for Eaton Vance Management.
Charles Schwab has filed filings to offer Direct indexing, which involves direct ownership of securities and thus can involve a greater level of tax management, sometime in April. Schwab’s direct indexing will have an account minimum of $100,000 and will charge a fee of 40 basis points. Initially, investors will have access to Continue reading →
DoubleLine Capital, Jeffrey Gundlach’s $137bn asset management firm, has received approval from the Securities and Exchange Commission (SEC) to launch two active non-transparent ETFs.
The company initially filed for the strategies – the DoubleLine Opportunistic Bond ETF and the DoubleLine Shiller CAPE US Equities ETF – in October 2021. The funds have expense ratios of 0.5% and 0.65%, respectively.
The funds will not disclose assets Continue reading →
On February 17, the Securities and Exchange Commission charged James Velissaris, the former Chief Investment Officer and founder of Infinity Q Capital Management, with overvaluing assets by more than $1 billion while pocketing tens of millions of dollars in fees.
The SEC’s complaint alleges that, from at least 2017 through February 2021, Velissaris engaged in Continue reading →
Hi! The Shadow here! I scan SEC filings and other sources for interesting industry developments to share with you. If you see something that you think we should share with readers in the month ahead, drop me a heads-up. If we use it, we’ll happily send an intensely stylish MFO mug to you!
Smead International Value Fund commenced operations on January 11, 2022. It’s the international version of the five-star Smead Value Fund (SMVLX), and it’s managed by Continue reading →
