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Rating:A 35-Year-Old Gotham Shop Soars Into ETF Country Not Rated 4.0 Email Routing List Email & Route  Print Print
Friday, June 9, 2023

A 35-Year-Old Gotham Shop Soars Into ETF Country

by: Neil Anderson, Managing Editor

The folks at a 35-year-old, employee-owned, 39-person, $23.9-billion-AUM (as of December 31), institutional asset manager are preparing an ETF for takeoff.

Today, the Eagle Capital Management, LLC team filed to launch the Eagle Capital Select Equity ETF (EAGL). The actively managed ETF will be a series of the 2023 ETF Series Trust and will be advised by New York City-based Eagle, a firm that offers SMAs and a UCIT powered by one strategy only.

The Eagle team has not yet chosen a principal U.S. listing exchange for EAGL, according to the filing, nor have they hired an independent accounting firm or finalized a total expense ratio for the planned fund. EAGL's management fee is listed as 80 basis points.

EAGL will be powered by a long-only, value equity strategy, and the fund will disclose holdings daily (as most ETFs do). The fund's PM team will include: Ravenel B. Curry, III, chairman, co-chief investment officer, and co-founder of Eagle; Ravenel B. Curry, IV, co-CIO; Alec Henry, managing CIO; and Adrian Meli, co-CIO.

The planned fund's other service providers will include: Bank of New York Mellon as administrator, custodian, dividend disbursing agent, and transfer agent; Foreside Fund Officer Services, LLC as chief compliance officer provider; Foreside Fund Services, LLC as distributor; Goldman Sachs' GS ETF Accelerator as ETF launch and operations consultant to Eagle; and Morgan, Lewis & Bockius LLP as counsel. 

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