MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, November 14, 2023 A Korean Tech Titan Helps Craft a U.S. ETF A research arm of a South Korean technology titan is teaming up to help power a new ETF in the U.S.
LQAI comes with an expense ratio of 75 basis points. Its inception date was November 6. ETF-in-a-box shop Exchange Traded Concepts, LLC (ETC), a Qraft ally, serves as investment advisor to LQAI. Qraft is the new ETF's sponsor, and the fund draws on a database generated by the LG-Qraft artificial intelligence system. The new ETF is PMed by four ETC portfolio managers: Todd Alberico, Brian Cooper, Andrew Serowik, and Gabriel Tan. The launch of LQAI comes three months after the LG AI Research and Qraft teams unveiled a strateic technology research partnership and memorandum of understanding (MoU). Kim describes the debut of LQAI as "pioneering new horizons in the realm of artificial intelligence-driven solutions," praising LG's "state-of-the-art machine-learning, processing, and big data abilities." "We're setting the stage for a revolutionary transformation in how investors approach large-cap core investments and harness the potential of AI to drive positive returns for investors," Kim states. Bae adds that the launch of LQAI comes after his team has "spent refining ... AI predictive capabilities." "We've found great success in applying our forecasting AI model to financial data and analysis," Bae states. "We're proud to partner with Qraft to debut a new ETF and apply our AI capabilities in the financial services arena." LQAI's other service providers include: Bank of New York Mellon (BNY Mellon) as administrator, custodian, dividend disbursing agent, and transfer agent; Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; and Morgan, Lewis & Bockius LLP as counsel. Printed from: MFWire.com/story.asp?s=66691 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
