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Rating:Chi-Town and Space City Allies Switch On an ETF Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 09, 2022

Chi-Town and Space City Allies Switch On an ETF

Reported by Neil Anderson, Managing Editor

An Illinois fund firm is teaming up with a Texas ally on a new, actively managed, non-diversified ETF.

Michael Norman "Mike" Loukas
TrueMark Investments, LLC
Principal, CEO
Today, Michael Cerasoli, portfolio manager at Houston-based Eagle Global Advisors, LLC, and Mike Loukas, CEO of Chicago-based TrueMark Investments, LLC [profile], unveil the launch of the TrueShares Eagle Global Renewable Energy Income ETF (RNWZ on the NYSE Arca, Inc.). The new fund is a series of Listed Funds Trust, with TrueMark as investment advisor and Eagle as subadvisor.

The new fund's inception date was yesterday, and it comes with an expense ratio of 75 basis points. Its PM team includes: Alex Meier and Cerasoli, co-heads of Eagle's energy infrastructure team; and Steven Russo, co-founder and senior partner at Eagle. The fund is designed to invest mainly in equities in the alternative and renewable energy space.

Cerasoli describes the new ETF as "a great vehicle for investors to gain access to the global megatrend created by declining renewables costs and global efforts at decarbonization." He puts the launch in the context of "the recent passage of the Inflation Reduction Act," which he describes as "a jolt of energy to the transition to renewables power generation."

Loukas, for his part, lauds the Eagle team for "their wealth of experience in the sector" of renewable energy infrastructure."

"We're extremely excited to partner with an Energy manager of Eagle Global's caliber," Loukas states. "We believe that this concentrated portfolio has the potential to produce a steady current income stream coupled with the possibility of meaningful future upside."

RNWZ's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Foreside Fund Services, LLC as distributor and principal underwriter; Morgan, Lewis & Bockius LLP as counsel; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator and transfer agent; and U.S. Bank National Association as custodian. 

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