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Rating:A $4B-AUMA Multi-Boutique Adds a 4th Fund to a New Suite Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, November 29, 2022

A $4B-AUMA Multi-Boutique Adds a 4th Fund to a New Suite

Reported by Neil Anderson, Managing Editor

A $4-billion-AUMA, 30-person, multi-boutique asset manager based in Washington, D.C. is adding a fourth fund to a new suite that has grown to more than $325 million in three months.

Alexander Robert "Alex" Morris
F/m Investments
President, Chief Investment Officer
Earlier this month, Alex Morris, president and chief investment officer of F/m Investments [profile], and Dave Littleton, CEO of F/m, unveiled the launch of the US Treasury 12 Month Bill ETF (OBIL on the Nasdaq). The new fund is part of F/m's new US Benchmark Series. Its inception date was November 15, and it now has $5.51 million in AUM.

The US Benchmark Series features single-security, passively managed ETFs that invest in different types of U.S. Treasuries. OBIL specifically focuses on 12-month treasuries, and it is designed to track the ICE BofA US 1-Year Treasury Bill Index.

Like the first three US Benchmark ETFs, which launched back in August, OBIL is a series of the RBB Fund, Inc.. Like the other ETFs in the series, OBIL's PM team includes Morris (co-creator of the series) and Peter Baden, chief investment officer of F/m's Genoa Asset Management, with F/m's North Slope Capital LLC (a white label advisory firm) as investment advisor.

"The application of the existing ETFs has been revolutionary, beyond even our most ambitious expectations," Morris tates. "Given the shape of the yield curve today, we are responding to investor demand in launching the highest yielding tenor, the 12 month, with the intentions to prudently launch the other points on the curve."

Littleton adds that working with RBB on the US Benchmark series "has made the entire process trouble-free."

OBIL uses the same service providers used by the other ETFs in the US Benchmark series. Those other other providers include: Cohen & Company, Ltd. as independent accounting firm; Faegre Drinke Biddle & Reath LLP as legal counsel; ICE Data Services as index provider; Jane Street Capital as lead market maker; Mirae Asset Securities (USA) Inc. (along with several other investment firms) as an initial funding provider; Quasar Distributors, LLC as distributor and underwriter; U.S. Bank Global Fund Services as administrator and transfer agent; and U.S. Bank, N.A. as custodian and securities lending agent. 

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