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Rating:More Than $100MM In Less Than 8 Months Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, May 19, 2022

More Than $100MM In Less Than 8 Months

Reported by Neil Anderson, Managing Editor

An AI-powered firm's first ETF recently crossed a big milestone, less than eight months after its debut.

Yung Chan Lim
FolioBeyond, LLC
CEO, Co-Chief Investment Officer
On Monday, Dean Smith, one of the PMs of the FolioBeyond Risig Rates ETF (RISR on the NYSE Arca), confirmed that the active, "quantamental" fund recently crossed the $100-million-AUM mark. (Indeed, as of yesterday the fund had a bit more than $110 million in AUM.)

The New York City-based firm's team partnered with Tidal ETF Services and Toroso Investments to launch the ETF last fall. (Its inception date was September 30.)

Smith puts FolioBeyond's flagship fund's success in the context of investors seeking out solutions to navigate "persistent and worsening inflation."

RISR is a series of the Tidal ETF Trust, with Toroso Investments, LLC as its investment advisor and FolioBeyond as its subadvisor. The fund comes with an expense ratio of 110 basis points. In addition to Smith, chief strategist of FolioBeyond, the fund's other PMs included: Yung Lim, CEO and co-chief investment officer of FolioBeyond; Michael Venuto, CIO of Toroso; and Charles Ragauss, PM at Toroso.

The young fund's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Foreside Fund Services, LLC as distributor; Godfrey & Kahn, S.C. as counsel; Tidal ETF Services LLC as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as fund accountant, sub-administrator, and transfer agent; and U.S. Bank National Association as custodian. 

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