Category Archives: Funds in Registration

Funds in Registration

By David Snowball

We are beginning of the annual insanity. 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 mid-October at the latest. The late September filings – we found 34 active funds and ETFs in registration – are the beginning of the annual flood.

Every month the ETF industry breathlessly trots out a few ideas designed to seize the moment. Think: “Virtual Work Continue reading →

Funds in Registration

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. We found 20-some active funds and ETFs in registration. (I hedge on the number because one of the entries covers an entire line of funds which is likely to grow over time.) Expect them to launch by the end of October 2020.

Every month the ETF industry breathlessly trots out a few ideas designed to seize the moment. Think: “Virtual Work and Life ETF.” This month’s leading candidate is Continue reading →

Funds in Registration

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. We found 17 active funds and ETFs in registration, some quite notable. Expect them to launch by the end of September 2020. All but two of those funds are either conservative income funds or hedged alternative funds.

The key additions are a growing number of low-cost ESG options, across a range of asset classes. We do not cover passively-managed ETFs, but fans of Continue reading →

Funds in Registration

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. We found 17 active funds and ETFs in registration, some quite notable. Expect them to launch by the end of September 2020.

The key additions are the three DFA active ETFs, which mimic three DFA funds. DFA, for better or worse, has long marketed its exclusivity. Dimensional Fund Advisors was Continue reading →

Funds in Registration

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. Most funds currently in registration are in a scramble to launch by June 30th with the hope that having a “standard reporting period” to share with investors sooner. In a remarkable surge, we found 31 active funds and ETFs in registration, some quite notable. Expect them to launch by the end of July 2020.

The number of ESG-themed funds in the pipeline continues to grow. This month’s crop includes a couple of passive ETFs, SPDR [S&P 500 ESG] ETF and JPMorgan Carbon Transition U.S. Equity ETF, as well as Continue reading →

Funds in Registration

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. Most funds currently in registration are in a scramble to launch by June 30th with the hope that having a “standard reporting period” to share with investors sooner. Continue reading →

Funds in Registration

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. Most funds currently in registration will not become available until June.

The month’s SEC pipeline saw filings for Direxion U.S. Hyper Growth ETF (HIPR) and Direxion U.S. Fallen Knives ETF Continue reading →

Funds in Reg

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. Most funds currently in registration will not become available until late April.

We found 14 funds in the pipeline. Two stand-out opportunities: an active, non-transparent ETF version of Continue reading →

Funds in Reg

By David Snowball

The funds in registration with the SEC in January will launch right around April Fool’s Day. For some, that’s probably foreshadowing.

Two particularly interesting sets of launches:

American Century has debuted two actively-managed, non-transparent ETFs, both with ESG screens.

WCM is launching three new funds, all international, all quality-focused, two explicitly ESG-focused. WCM has a really outstanding, off-the-radar record. The non-ESG versions of these funds are both Continue reading →

Funds In Registration

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. Most funds currently in registration will not become available until late February.

We found 24 funds in the pipeline. What stands out is Continue reading →

Funds in Reg

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. Most funds currently in registration will not become available until January, which is a really bad problem for those trying to market the funds. Because these funds won’t be trading on the first day of the year, they’re not eligible for “year-to-date” returns reports and reporting services such as Morningstar won’t give them “credit” for Continue reading →

Funds in Registration

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. Most funds currently in registration will become available by year’s end, which is the reason for the surge now

Our list contains 30 new funds and active ETFs. We don’t usually track passive ETFs but did want to mention two this Continue reading →

Funds In Registration

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. Most funds currently in registration will become available by late October.

Our list contains 22 new funds and active ETFs. We don’t track Continue reading →

Funds in Registration, September 2019

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. Most funds currently in registration will become available by late October.

Our list contains 37 new funds and active ETFs, with another 15 (unlisted) high minimum institutional funds and passive ETFs. Funds worth putting on your radar include FPA Balanced, a 60/40 fund with A-tier managers; three new funds from Continue reading →

Funds in Registration

By David Snowball

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, Funds in Registration gives you a peek into the new product pipeline. Most funds currently in registration will become available by mid-October.

Eighteen new funds, available just in time for Halloween! Spoooky!

Most of the buzz surrounds the new line of Avantis active ETFs. Avantis is the product of a collaboration between American Century Investments and long-time Dimensional Fund Advisor (DFA) managers. DFA probably invented Continue reading →

Funds in Registration

By David Snowball

Before funds and ETFs 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 year’s end because that allows them to have clean “year to date” and calendar year results to share. The funds on-file this month will be eligible to launch in September, though not required to do so. A surprising number of advisors filed virtual “red herring” prospectuses: substantially incomplete documents that were pushed through to meet some self-imposed deadline but that fail to stipulate strategy, manager and costs.

There are a series of intriguing Continue reading →

Funds in Registration

By David Snowball

Before funds and ETFs 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 year’s end because that allows them to have clean “year to date” and calendar year results to share. In general, launching new funds in July and August is a dumb idea. Investment returns in summer are, in general, miserable and you lose the advantage of being able to report a full calendar quarter.

Happily, not many fall victim to that trap. Well, these guys Continue reading →

Funds in Registration

By David Snowball

Before funds and ETFs 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 year’s end because that allows them to have clean “year to date” and calendar year results to share. These launches will likely occur in late June so that they’ll at least have full-quarter results for 2019 Q3.

The dominant themes this month seem to be enhanced risk-management (Aptus, Horizon, Hussman, Quadratic, RG) and ESG emphasis (Horizon, Kennedy, Wahed). Also cannabis. Continue reading →

Funds in registration

By David Snowball

Before funds and ETFs 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 year’s end because that allows them to have clean “year to date” and calendar year results to share. These launches will likely occur in late May or June so that they’ll at least have full-quarter results for 2019 Q3.

The team behind Harbor Focused International has been recognized as one of the best asset managers in Europe, while the advisers behind DoubleLine Emerging Markets Local Currency Bond Fund and Vanguard Global ESG Select Stock Fund are among the best in US fixed income and equity investing, respectively. And yet, the Kensington Managed Income Fund might have the best underlying performance of them all. That makes it a Continue reading →

Funds in Registration

By David Snowball

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 April or May.

Palm Valley Capital Fund is sort of a stand-out here, despite the name that vaguely calls a retirement community (with golf!) to mind. It will be a small cap stock fund managed by Continue reading →