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
Today, Michael Cerasoli
, portfolio manager at Houston-based Eagle Global Advisors, LLC
, and Mike Loukas
, CEO of Chicago-based TrueMark Investments, LLC
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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