Liquid Alternatives: Leatherback Asset Management Launches Its First ETF
The firm floats LBAY to launch its actively managed ETFs that incorporate alternate investment strategies.
Leatherback Asset Management is led by founder Michael Winter (picture above). He is a 20-year veteran of the mutual fund and alternative asset management industry. The firm announced Tuesday the launch of its first exchange-traded fund: The Leatherback Long/Short Alternative Yield ETF (NYSEARCA: LBAY). (Intrado GlobeNewswire)
Leatherback is looking to make a mark in the ETF industry by providing high-quality, actively managed alternatives in a cost-effective, liquid, tax-efficient structure.
Leatherback Long/Short Alternative Yield ETF (LBAY)
LBAY is an actively managed exchange-traded fund. It seeks income generation and capital appreciation through shareholder yielding equities and income-producing securities.
The fund identifies securities that would provide sustainable yield and takes a long position in them. It goes short on securities which its analysis shows are likely to decline in price. It uses a quantitative and fundamental approach for picking such companies. The fund prefers to invest in dividend-paying companies that add to the fund’s total return and have lower downside risk.
It picks from U.S.-listed large-, mid-, or small-capitalization companies.
The fund can also write covered calls or purchase put options.
The fund has an expense ratio of 1.09%.
An alternative route to yield
“I am thrilled to bring our first ETF to market. LBAY represents the type of dynamic, innovative, active approach that investors of all types should have available to them, but which for too long have been reserved for institutions and accredited investors,” said Mr. Winter. “With bond yields at historic lows, investors are looking elsewhere for the income they need. Passive strategies too often come with misunderstood or misattributed risks, and active strategies in a mutual fund or hedge fund wrapper burden investors with onerous lockups and high fees. With LBAY, investors now have a powerful tool for adding alternative yield to their portfolios, guided by experienced active management.”
Leatherback has launched the ETF in partnership with Tidal ETF Services.
Related Story: Picton Mahoney Launches New Long Short Alternative Fund
Latest Alternative Investment News
Artificial Intelligence: A Molecule For Alzheimer’s Created By Exscientia’s AI Enters Clinical Trials
Oxford, UK-based Exscientia uses AI to design and create drug candidate molecules satisfying complex therapeutic requirements with revolutionary efficiency. Joint research by Exscientia with Sumitomo Dainippon Pharma Co., Ltd. (TYO:…
Vinted, a European startup that runs a marketplace for used clothing and home goods, announced its raise of $303 million at a valuation of $4.5 billion, post-money. That valuation is…
On Wednesday, Germany’s Federal Financial Supervisory Authority (BaFin) ordered challenger bank N26 to implement appropriate internal controls and safeguards and comply with general due diligence requirements to prevent money laundering…
The traditional [60:40] portfolio may no longer work over the long term. Sandi Bragar, managing director at Aspiriant, a wealth management firm based in Los Angeles with $14 billion in…