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Rating:A Two-Year-Old Startup Launches Its 23rd ETF Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 18, 2022

A Two-Year-Old Startup Launches Its 23rd ETF

Reported by Neil Anderson, Managing Editor

A two-year-old startup's team is rolling out their 23rd ETF.

Paul Kim
Simplify Asset Management, Inc.
CEO, Co-Founder
Yesterday, Michael Green, managing director and chief strategist with Simplify Asset Management Inc., unveiled the new Simplify Macro Strategy ETF (FIG on the NYSE Arca). The new fund's inception date was Monday, and as of yesterday it had $1.249 million in AUM.

FIG is an actively managed ETF of ETFs and a series of Simplify Exchange Traded Funds. Simplify serves as FIG's investment advisor, and the fund has four PMs: Green; Harley Bassman, managing partner; David Berns, chief investment officer; and Paul Kim, CEO. It comes with an expense ratio of 75 basis points.

Green puts the launch in the context of the recent woes of traditional 60/40 portfolios. He describes FIG as "an easily accessible solution to the allocation problem."

The new fund's other service providers include: Bank of New York Mellon (BNY Mellon) as administrator, custodian, fund accountant, and transfer agent; Cohen & Company, Ltd. as independent accounting firm; Foreside Financial Services, LLC as distributor; and Thompson Hine LLP as counsel. 

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