The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Each month we survey actively managed funds and ETFs in the pipeline. This month brings 39 new products in the pipeline, most of which will launch by the end of December. Only Smead International Value overtly flags a 2022 launch.
The four most important words to keep in mind when you’re reviewing this month’s filings: Continue reading →
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Each month we survey actively managed funds and ETFs in the pipeline. This month brings 33 new products into the pipeline, most of which will launch by the end of late November.
French historian Jean Francois Marmontel (1723-99) coined, and the American agitator Thomas Paine (in The Age of Reason, 1793) popularized, the phrase “from the ridiculous to the sublime.” This month’s offerings perfectly capture that sentiment, ranging at they do from a bunch of marketing confections destined for Continue reading →
Harbor International Small Cap Fund pursues long-term growth by investing in a diversified portfolio of international small-cap stocks. They have three particular preferences:
Up to 15% of Continue reading →
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Each month we survey actively managed funds and ETFs in the pipeline. This month brings 50 new products in the pipeline, most of which will launch by the end of October. The recent record, though, is that many authorized products are being Continue reading →
Channel Short Duration Income Fund pursues total return, comprised of both income and capital appreciation. In general, at least 65% of the portfolio will be investment-grade securities and up to 35% might be high-yield bonds. The bulk of the portfolio is short-term investment-grade debt, but the manager can opportunistically add other securities – longer-term debt, for instance – so long as the portfolio as a whole maintains a weighted average duration of 1 to 3.5 years.
The adviser expects the portfolio to be Continue reading →
The Appleseed Fund seeks long-term capital appreciation. They do that through a portfolio that combines a global, all-cap portfolio of undervalued equities with other diversifying, and sometimes defensive, assets. Its investable universe centers on companies that have “sustainable competitive positions, solid financials, and capable, shareholder-friendly management teams.” The “other assets” in the fund might include bonds (though it currently does not), convertible securities, ETFs, commodities, REITs, and other real estate entities, currencies, and cryptocurrencies. Finally, they use Continue reading →
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Each month we survey actively managed funds and ETFs in the pipeline. This month brings 36 new products in the pipeline, most of which will launch by Continue reading →
This Fund seeks to invest in high-quality companies that are industry leaders with regards to their environmental, social, and governance practices. Their investable universe is mid- to large-cap US stocks excluding those companies involved in ESG controversies or those that violate global norms like the United Nations Global Compact. They also remove Continue reading →
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Each month we survey actively managed funds and ETFs in the pipeline. This month brings 28 new products in the pipeline, most of which will launch in August or September. The recent record, though, is that many authorized products are Continue reading →
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Each month we survey actively managed funds and ETFs in the pipeline. This month brings 34 new products in the pipeline, most of which will Continue reading →
Formerly Guinness Atkinson Dividend Builder (GAINX) and, prior to 2014, Guinness Atkinson Inflation Managed Dividend Fund.
SmartETFs Dividend Builder ETF seeks consistent dividend growth at a rate greater than the rate of inflation by investing in a global portfolio of about 35 dividend-paying stocks. Stocks in the portfolio have survived four Continue reading →
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Each month we survey actively managed funds and ETFs in the pipeline. We thought the “actively-managed” proviso would allow us to avoid the pain of reporting on the endless array of ETFs that have commissioned indices of … oh, SPACs plus cannabis or cryptocurrencies plus hotel stocks or stocks also loved by Gamestop investors. Sadly, we were wrong because there are now actively managed ETFs (below) proposing to target marijuana (2), bitcoin (2), and Continue reading →
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Each month we survey actively managed funds and ETFs in the pipeline. The “actively-managed” proviso allows us to avoid the pain of reporting on the endless array of ETFs that have commissioned indices of … oh, SPACs plus cannabis or cryptocurrencies plus hotel stocks or stocks also loved by Gamestop investors. (The examples are hypothetical but still representative of the idiocy of the moment.) This month brings 15 new products in the pipeline, most of which will Continue reading →
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Fund companies anxious to have a new fund up and running by December 31st need to have it in the hopper by the third week in October at the latest. This month brings a far more sedate pace of launches with 20 new products in the pipeline, most of which will launch in April or May.
It’s a distinctly mixed-bag this month. Expense ratios range from 0.10% to 2.93%. Mandates range from crystal clear to “trust us! Continue reading →
Continuous Capital pursues long-term capital appreciation through investing in a diversified portfolio of EM equities. The managers view their core competence as security selection. They try to keep the portfolio roughly sector- and country-neutral relative to their benchmark so that the portfolio’s performance will be driven primarily by their security selection. Security selection, in turn, is driven by the interplay of three factors: value, quality, and dividends. In consequence, the fund’s “style” might appear more growth-oriented in some markets and more value-oriented in others.
The portfolio is broadly diversified, with a commitment to including both mid- and small-cap stocks. The managers anticipate Continue reading →
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Fund companies anxious to have a new fund up and running by December 31st need to have it in the hopper by the third week in October at the latest. This month brings a far more sedate pace of launches with 14 new products in the pipeline, most of which will launch in February.
That said, the new funds are being offered by some absolutely A-tier advisers, which might explain their willingness to launch at Continue reading →
Rondure Overseas invests, primarily, in the stocks of corporations located in developed markets outside of the US. The managers pursue a benchmark-agnostic, active style that allows them to invest in stocks of any size. In general, they aspire to invest in great companies at good prices. They have the freedom to invest in good companies at great prices, but the wisdom to play that game rarely.
The quantitative markers of being a great company include strong balance sheets, stable free cash flows, and high returns on capital. The qualitative markers are “compelling competitive advantages,” which might include elements of the business niche and strong, responsible leadership.
The portfolio currently holds Continue reading →
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Fund companies anxious to have a new fund up and running by December 31st need to have it in the hopper by the third week in October at the latest. And, my goodness, a lot of folks did find time to file with 50 new funds and active ETFs listed in our November issue.
This month brings a far more sedate pace of launches with 19 new products in the pipeline. They continue the trends we identified last month: socially-responsible funds, funds with options strategies, and dumb ideas.
The most notable change is the shift from a passive approach in ESG investing toward an active or “impact” approach. Historically, most socially-responsible funds had a “first, do no harm” mandate: avoid tobacco, weapons, alcohol, porn, or whatever. Impact investors seek out the opportunity to actively advance good: allocate capital to firms seeking to address the global climate crisis, to advance social equity, or Continue reading →
We warned last month that we were “at the beginning of the annual insanity.” This month, it’s at flood tide.
The Securities and Exchange Commission, by law, gets between 60 and 75 days to review proposed new funds before they can be offered for sale to the public. Fund companies anxious to have a new fund up and running by December 31st need to have it in the hopper by the third week in October at the latest. And, my goodness, a lot of folks did find time to file.
The fund industry is given to fads and Continue reading →
The fund invests primarily in non-US growth companies that they believe are innovators in their sectors or industries. Nominally the managers can invest in “domestic and foreign … companies of any size.” As a practical matter, they invest in international small-cap companies. That’s reflected in the first four words atop their homepage:
While retaining the flexibility of Continue reading →
