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Rating:Two Years, $63MM In AUM Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, December 8, 2022

Two Years, $63MM In AUM

Reported by Neil Anderson, Managing Editor

The team at a Sunshine State shop is celebrating the cotton anniversary of their first ETF.

Michael J. "Mike" Winter
Leatherback Asset Management, LLC
Founder, CEO, Chief Investment Officer
Last month, the Leatherback Long/Short Alternative Yield ETF (LBAY on the NYSE Arca, Inc.) reached its second birthday. The fund is powered by Tidal Financial Group and by Palm Beach Gardens, Florida-based Leatherback Asset Management. Tidal affiliate Toroso Investments, LLC serves as the fund's investment advisor, and Leatherback serves as subadvisor. The actively managed fund is a series of Tidal ETF Trust.

LBAY's inception date was November 16, 2020, and as of yesterday it had $63 million in AUM. The fund has an expense ratio of 143 basis points.

"We're very pleased and proud of the way we have been able to navigate LBAY through the choppy markets of 2021 and 2022, a volatile period which has offered numerous opportunities for a long/short strategy such as outs," states Mike Winter, the founder, CEO, and chief investment officer of Leatherback. "We feel we're off to a strong start and are looking forward to continuing to tell the LBAY story to advisors and investors of all types."

LBAY's PM team includes: Michael Venuto, CIO of Toroso; Charles Ragauss, portfolio manager and head of trading at Toroso; and Winter at Leatherback. They use an alternative yield strategy with targeted monthly distributions.

The fund's other service providers include: Cipperman Compliance Services, LLC as compliance services administrator; Foreside Fund Services, LLC as distributor and principal underwriter; Global Fund Services as subadministrator and transfer agent; Godfrey & Kahn, S.C. as counsel; Tait, Weller & Baker LLP as indepenendent accounting firm; Tidal ETF Services LLC (a Toroso affiliate) as administrator; and U.S. Bank National Association as custodian. 

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