MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, October 19, 2023 REX and TCM Team Up to Launch Four ETFs The folks at two ETF shops are teaming up to launch a quartet of single-stock funds.
TSLT and TSLZ both focus on Tesla, with the first fund targeting double the stock's daily returns and the second fund targeting double the inverse of the stock's daily returns. NVDX and NVDQ are similarly paired, though they focus on NVIDIA. (While other ETFs offer magnified or inverse exposure to Tesla and NVIDIA, the new funds appear to offer new exposure multiples.) All four new funds' inception date was yesterday, and they each come with an expense ratio of 105 basis points. Fairfield, Connecticut-based REX Advisers, LLC serves as the new funds' sponsor, while Riverside, Connecticut-based TCM serves as investment advisor and Tuttle himself serves as PM. Acheychek puts the quadruple launch in the context of REX Shares' "unyielding commitment to innovation and pushing boundaries." "The partnership with Tuttle and the unveiling of the T-REX Single-Stock ETFs mark a pivotal moment for our team, illustrating our dedication to offering traders enhanced tools that are both innovative and transparent," Acheychek states. Tuttle praises REX Shares as "a leading provider of alternative-strategy products" and lays claim to the new funds being "the only single stock ETFs that offer 2x exposure to the marketplace." "This collaboration is more than just a partnership; it's a fusion of a shared vision and unparalleled expertise in the ETF market," Tuttle states. The new funds' other service providers include: Citi Fund Services Ohio, Inc. as fund accountant; Citibank, N.A. as custodian and transfer agent; Cohen & Company, Ltd. as independent accounting firm; Commonwealth Fund Services, Inc. as administrator; ACA's Foreside Fund Services, LLC as distributor; and Practus, LLP as counsel. Printed from: MFWire.com/story.asp?s=66584 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
