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Rating:Crossing $10B, a Fund Firm Teams With a $366B-AUM Quant Shop Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 9, 2022

Crossing $10B, a Fund Firm Teams With a $366B-AUM Quant Shop

Reported by Neil Anderson, Managing Editor

A Midwestern ETF specialist is partnering with a $366-billion-AUM (as of September 30) unit within a publicly traded firm's asset management arm. The new fund's strategy combines investing in equities with an options overlay strategy intended to limit loses.

Harold Bruce "Bruce" Bond
Innovator Capital Management LLC
President, CEO
Today, Bruce Bond, co-founder and CEO of Innovator ETFs, and Thomas Lee, chief investment officer of Morgan Stanley's Parametic Portfolio Associates LLC, confirm the launch of the Innovator Equity Managed Floor ETF (SFLR on the NYSE Arca, Inc.). The new fund's inception date was yesterday, its listing date is today, and it had $1.14 million in AUM as of yesterday. The actively managed fund comes with an expense ratio of 89 basis points.

The launch comes after Innovator crossed $10 billion on Monday, thanks in part to bringing in more than $4.8 billion in inflows year-to-date (as of Friday).

SFLR is a series of the Innovator ETFs Trust. Innovator Capital Management, LLC serves as the new fund's investment advisor and Parametric serves as subadivsor. The PM team includes: Larry Berman, managing director of investment management at Parametric; James Reber, managing director of portfolio management at Parametric; Thomas Seto, head of investment management at Paremetric; Alex Zweber, managing director of investment strategies at Parametric; and Michael Zaslavsky, senior investment strategist.

Bond describes the new fund as "a core portfolio product" that the Innovator team has "been brainstorming for some time." He lauds Parametric as long being "an industry leader in designing and managing customized quantitative strategies for large institutional investors."

Lee frames the launch by noting "that managing risk can elevate investors' expected outcomes over the long-term."

"The disciplined and transparent nature of the option methodology that underpins SFLR can potentially provide a durable and central core holding in many portfolios," Lee states.

The new fund's other service providers include: Chapman and Cutler LLP as counsel; Cohen & Company, Ltd. as independent accounting firm; Foreside Fund Services, LLC as distributor; U.S. Bancorp Fund Services LLC as administrator, fund accounting agent, and transfer agent; and U.S. Bank, N.A. as custodian. 

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