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 |
|
Tuesday, April 30, 2024 A $6.7B-AUM Value Boutique Will Shutter Its ETF The team at a $6.6819-billion-AUM (as of February 29) value asset manager are preparing to shut down their sole ETF after less than three years.
USVT is a series of the Ultimus Managers Trust. In a filing, the LAM team reveals that the trust's board, per LAM's recommendation, has determined that liquidating the ETF "is in the best interests of the [fund] and its shareholders." The LAM team launched USVT on September 14, 2021, and as of yesterday USVT had $5.2 million in AUM. The ETF comes with an expense ratio of 49 basis points (which bakes in a 206bps fee waiver). LAM serves as investment advisor to USVT, and GKD Index Partners LLC (dba Alerian) serves as index provider. The fund is designed to track the Lyrical U.S. Value Index. Daniel DeSerio, director of operations and trading at LAM, has PMed the fund since its inception. USVT's other service providers include: Brown Brothers Harriman & Co. (BBH) as custodian and transfer agent; Cohen & Company, Ltd. as independent accounting firm; Northern Lights Compliance Services, LLC (NLCS) as chief compliance officer provider; Northern Lights Distributors as distributor; and Sullivan and Worcester, LLP as counsel. Printed from: MFWire.com/story.asp?s=67356 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
