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Rating:A $1.5B-AUM Quant Shop Launches Its First Stock ETF Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 1, 2023

A $1.5B-AUM Quant Shop Launches Its First Stock ETF

Reported by Neil Anderson, Managing Editor

The team at a $1.5-billion-AUM, quantitative fund firm in Southern California is rolling out their first ever stock-focused ETF. The move expands the firm's lineup to two ETFs (and three open-end mutual funds).

On Wednesday, Joseph Engelberg, chief research officer at Counterpoint Funds LLC, unveiled the launch of the Counterpoint Quantitative Equity ETF (CPAI on the NYSE Arca, Inc.). The new, actively managed, quant ETF is a series of Northern Lights Fund Trust III.

CPAI's inception date was Tuesday. The new fund comes with an expense ratio of 75 basis points, which includes a fee waiver promised through May 1, 2025.

San Diego-based Counterpoint serves as investment advisor to CPAI. The new ETF's PM team includes: Michael Krause, co-founder of Counterpoint; and Engelberg.

Engelberg describes CPAI as "a long-only equity ETF that is revolutionary in its use of advanced artificial intelligence to dynamically adjust factor exposure depending on changes in market conditions."

"This unlocks the potential of CPAI to capitalize on a wider range of market environments as it is not anchored to a traditional static single or multi-factor-based approach to investing," Engelberg states. "As advisors continue to seek greater equity diversification, we are confident the Counterpoint Quantitative Equity Fund will be a welcome addition for investors seeking total return and capital appreciation."

CPAI's other service providers include: Brown Brothers Harriman & Co. (BBH) as custodian, dividend disbursing agent, shareholder servicing agent, and transfer agent; Northern Lights Distributors, LLC as distributor; RSM US LLP as independent accounting firm; Thompson Hine LLP as counsel; and Ultimus Fund Solutions, LLC (a Northern Lights affiliate) as administrator and fund accountant. 

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