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Rating:Lafferty Preps a $1.3T-AUM AM's 2nd Active FI ETF Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, January 13, 2025

Lafferty Preps a $1.3T-AUM AM's 2nd Active FI ETF

Reported by Neil Anderson, Managing Editor

The folks at a publicly traded brokerage's $1.3-trillion-AUM (as of September 30, 2024) asset manager are preparing to roll out their second active fixed income ETF next month.

Omar Aguilar
Schwab Asset Management
CEO, Chief Investment Officer
This morning, David Lafferty, director of product management and innovation at Schwab Asset Management [profile], unveiled the impending launch of the Schwab Core Bond ETF (SCCR on the NYSE Arca). The new fund is scheduled to debut on February 5, and Charles Schwab Investment Management, Inc. (dba Schab AM) will serve as its investment advisor and administrator.

SCCR will come with an expense ratio of 16 basis points. Its PM team will include two senior portfolio managers: Brian Luedtke and John Majoros.

The investment strategy that will power SCCR is the one behind Schwab's Wasmer Schroeder Core Bond Separately Managed Account strategy, which launched in 2008. (Wasmer Schroeder is Schwab fixed income boutique in Florida.) Lafferty describes the new fund as a way for investors to access the Wasmer Schroeder "portfolio management team's expertise, along with the inherent features of an ETF."

"In today's rate environment, investors have the potential to capture a healthy level of income and navigate total market volatility by diversifying their core bond exposure with high-quality bonds," Lafferty states.

The SCCR will come about six months about the planned debut of Schwab's first active fixed income ETF, SCUS. As of Friday (January 10), that ETF had grown to about $70.311 million in AUM.

SCCR is an actively managed series of Schwab Strategic Trust. The planned ETF's other service providers will include: Deloitte & Touche LLP as independent accounting firm; SEI Investments Distribution Co. as distributor; and State Street Bank and Trust Company as custodian, fund accountant, and transfer agent. 

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