Shortly after a deal, the team at a $1.3-billion-AUM (as of September 30), alts asset manager in Massachusetts is celebrating a big milestone for their first ETFs.

Vincent Michael "Vince" Lorusso Clough Capital Partners, L.P. CEO, President, Portfolio Manager

Last week, Vince Lorusso, president and CEO of Boston-based Clough Capital Partners L.P. [profile], highlighted the third birthday of the Clough Long/Short Equity ETF (CBLS on the NYSE Arca, Inc.) and the Clough Select Equity ETF (CBSE). Reaching this milestone can be critical for marketing and distributing funds, as many screening methods and tools automatically exclude funds with track records going back less than three years.

The two ETFs' inception date was November 13, 2020, and they were first launched by Changebridge Capital under different names: the Changebridge Capital Long/Short Equity ETF and the Changebridge Capital Sustainable Equity ETF. The funds' third anniversary (last Monday, November 13, 2023) came a couple of months after they were both adopted by Clough.

CBSE comes with an expense ratio of 85 basis points, and as of Friday it had $5.95 million in AUM. CBLS comes with an expense ratio of 249bps, and as of Friday it had $7.47 million in AUM. They are both series of Listed Funds Trust.

Clough now serves as investment advisor to both CBLS and CBSE. Lorusso, co-founder of Changebridge, has PMed both ETFs since their inception three years ago.

"As we cross this important milestone, we think our track record confirms that we have a highly capable team [and] a robust infrastructure," Lorusso states. "We think the two strategies will be able to benefit our clients well into the future."

CBSE and CBLS' other service providers include: Cohen & Company, Ltd. as independent accounting firm; Morgan, Lewis & Bockius LLP as counsel; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator and transfer agent; U.S. Bank National Association as custodian; and Vigilant Distributors as distributor and principal underwriter. 

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