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Wednesday, October 25, 2023

$138MM In Nine Months

Reported by Neil Anderson, Managing Editor

The team at an $15.6-billion-AUM, institutional, structured credit asset manager in Gotham is celebrating the growth of their first ETF into nine-figure territory in less than a year.

John Emil Kim
Panagram Structured Asset Management, LLC
CEO, Chief Investment Officer
As of yesterday, the Panagram BBB-B CLO ETF (CLOZ on the NYSE Arca) had grown to $138 million in AUM. The actively managed, non-diversified ETF is a series of Series Portfolio Trust, and it debuted nine months ago, on January 24, 2023.

CLOZ comes with an expense ratio of 50 basis points. New York City-based Panagram Structured Asset Management, LLC serves as investment advisor, and the fund's PM team includes John Kim, CEO and chief investment officer of Panagram, and Tim Wickstrom, executive director.

"The early success of CLOZ demonstrates our ability to navigate complex markets and deliver value to our investors," Kim states. "Reaching $100 million in AUM in such a short time is a testament to our product and the trust investors place in us. The management team behind CLOZ has provided stability and income, even in challenging market conditions."

CLOZ's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Goodwin Procter LLP as counsel; Quasar Distributors, LLC as distributor; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator, fund accountant, and transfer agent; and U.S. Bank N.A. as custodian and securities lending agent. 

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