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Two Launches - Double Down On One Fund Or Bet Against Another
The team at an alts-focused ETF shop is rolling out a pair of new funds, one betting on a popular, actively managed ETF and the other betting against a popular index ETF.
TARK is designed to double the daily performance of the Ark Innovation ETF, while SEB is designed to offer the inverse of the daily performance of the KraneShares CSI China Internet ETF. Both funds are PMed by Parker Binion and Matthew Tuttle. And the launches come as AXS is buying Tuttle's ETF family and bringing him on board. (One of Tuttle's ETFs is one that bets against the Ark Innovation ETF.)
"Our mission is to continue providing all types of investors with alternatives to traditional stock and bond exposures as highly differentiated tools needed to navigate today's challenging markets," Bassuk states.
Both new funds are series of the Investment Manager Series Trust II, and AXS Investments LLC serves as their investment advisor. The funds' other service providers include: Brown Brothers Harriman & Co. (BBH) as custodian, fund accounting agent, and transfer agent; IMST Distributors, LLC as distributor and principal underwriter; Morgan, Lewis & Bockius LLP as counsel; Mutual Fund Administrationr, LLC (MFAC) as co-administrator; Tait, Weller & Baker LLP as independent accounting firm; and UMB Fund Services, Inc. (UMBFS as co-administrator.
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