The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:2 AI-Powered Funds Turn 5, And ... Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, June 13, 2024

2 AI-Powered Funds Turn 5, And ...

Reported by Neil Anderson, Managing Editor

An eight-year-old, South Korean quant shop's team is celebrating the wood anniversary of two of their U.S. funds, even as they switching in some new service providers.

Marcus Hyung-Sik Kim
Qraft Technologies, Inc.
Founder, CEO
Last month, Francis Oh, chief operating officer of Qraft Technologies, Inc., and Marcus Kim, founder and CEO of Qraft, highlighted the fifth birthday of the Qraft AI-Enhanced U.S. Large Cap Momentum ETF (AMOM on the NYSE Arca) and the Qraft AI-Enhanced U.S. Large Cap ETF (QRFT). Meanwhile, a filing reveals that a pair of service provides will be replaced shortly for QRFT, AMOM, and a third Qraft ETF, the LQ QAF AI-Powered U.S. Large Cap Core ETF (LQAI).

AMOM and QRFT's inception date was May 21, 2019. Both funds are actively managed and come with an expense ratio of 75 basis points. QRFT had $10.149 million in AUM as of yesterday, while AMOM had $21.329 million.

Tomorrow, per a filing, Brown Brothers Harriman & Co. will take over as custodian, dividend disbursing agent, and transfer agent for AMOM, QRFT, and LQAI, succeeding the Bank of New York Mellon (BNY Mellon). Also tomorrow, Ultimus Fund Solutions, LLC will replace BNY Mellon as the three ETFs' administrator.

All three funds are series of Exchange Listed Funds Trust. Qraft is the sponsor of the ETFs, while Exchange Traded Concepts, LLC (ETC) is their investment advisor. (ETC subsidiary ETC Platform Services, LLC also supports the trio.) The funds' PM team includes four ETC portfolio managers: Todd Alberico, Brian Cooper, Andrew Serowik, and Gabriel Tan.

"Our AI ETFs have been at the forefront of using AI to reshape the asset management industry," Oh states. "We are committed to continually advancing these technologies and their investment applications to benefit our partners and clients."

"The strength of our ETF products is a testament to the long-term potential and high caliber of performance made possible by AI intervention in the portfolio allocation process," Kim states. "We look forward to continuing to deliver progressive AI-enabled solutions for our investors and leading the industry in the application of these pioneering technologies."

The Qraft ETFs' other service providers include: Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; and Morgan, Lewis & Bockius LLP as counsel. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use