Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A 58-Year-Old Shop Enters the ETF Biz Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, April 26, 2022

A 58-Year-Old Shop Enters the ETF Biz

Reported by Neil Anderson, Managing Editor

A 58-year-old wealth management RIA with about $20 billion in AUM is entering the ETF business.

Zachary A. "Zac" Wydra
First Manhattan Co.
CEO
Yesterday, Zac Wydra, CEO of First Manhattan Co. [profile], unveiled the New York City-based firm's first ETF, the FMC Excelsior Focus Equity ETF (FMCX on the NYSE Arca). The fund, a series of the Northern Lights Fund Trust IV, now has $77 million in AUM and an expense ratio of 70 basis points.

FMC serves as the investment advisor to the new fund, while Vident Investment Advisory, LLC is its trading subadvisor. Himayani Puri, senior managing director and director of research at FMC, PMs the new fund, which uses a concentrated portfolio equity strategy (focusing in on 25 to 30 stocks at a time). The fund is an actively managed, translucent (more commonly misnamed as semi-transparent or non-transparent) ETF, powered by the ActiveShares methodology licensed from Franklin Templeton's Precidian Investments, LLC.

"Over the past six decades, we have honed a distinctive, fundamentals-based investment approach, and we are compelled to offer this strategy to a broad range of institutional and retail investors in the form of an innovative ETF," Wydra states.

Puri puts the launch in the context of FMC's "business owner's mindset" and focus on shareholder engagement with portfolio companies.

"We will continue to apply our distinctive investment process to identify opportunities in companies that are attractively valued relative to the quality of their business, our view of their earnings trajectory, and our expectation for long-term growth in value-per-share," Puri sates.

The new fund's other service providers include: Cohen & Company, Ltd. as independent accounting firm; State Street Bank and Trust Co. as custodian and transfer agent; Thompson Hine LLP as counsel; Ultimus Fund Solutions, LLC as administrator and fund accountant; and Ultimus' Northern Lights Distributors, LLC as distributor. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. 2022 ICI Leadership Summit, May 25-26
  2. ALFI Roadshow to New York, May 25
  3. 2022 IDC Fund Directors Workshop, May 26
  4. Irish Funds Annual Global Funds Conference 2022, May 30-31
  5. WealthManagement Edge, May 31 - June 3
  6. MFDF 2022 Fund Governance and Regulatory Insights Conference, Jun 8-9
  7. 28th annual Expect Miracles East Coast Classic, June 9
  8. 2022 Sohn Investment Conference, June 9
  9. IDC webinar - Cybersecurity for Fund Boards: The Current Landscape, June 9
  10. MMI webinar - Driving Business Value with Artificial Intelligence & Data, June 15
  11. MFDF webinar - Key Takeaways From Morningstar's 2021 Annual Fund Fee Study, June 16
  12. MFDF Director Discussion Series - Open Forum (Chicago), June 21
  13. 2022 MMI Emerging Asset Managers Forum, June 23
  14. MFDF In Focus: Capitol Hill, A Conversation with Congressman Bryan Steil, June 28
  15. Financial Planning INVEST, Jun 28-29
  16. MFDF webinar - Differentiating Mutual-Fund-to-ETF Conversions, July 19
  17. MFDF Director Discussion Series - Open Forum (New York), July 20
  18. 2022 MMI Distribution Leadership Forum, Jul 20-21
  19. MFDF webinar - Fund Boards' Oversight of Investment Performance, July 28
  20. MFDF webinar - Performance, Perception and Manager Selection, September 14
  21. 2022 ICI Tax and Accounting Conference, Sep 18-21
  22. 5th annual Expect Miracles Atlantic Coast Classic, October 3
  23. Nicsa Fearless Leadership Symposium, Oct 6-7
  24. 2022 MMI Annual Conference, Oct 19-21
  25. 2022 IDC Fund Directors Conference, Oct 24-26
  26. 18th annual Expect Miracles Wine & Spirits Event, October 27




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use