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
Einride, the Swedish electric self-driving truck start-up, announced a raise of $500 million comprising an equity-based $200 million Series C portion from investors including Northzone, EQT Ventures, Temasek, Swedish pension…
Pedro Arnt, CFO at Latin American e-commerce retailer and fintech firm MercadoLibre (NASDAQ: MELI) is in discussions with Meta (NASDAQ: META) to process payments in Brazil on the latter’s WhatsApp…
Dimensional Fund Advisors has added a real estate ETF to its ETF line-up. The Dimensional Global Real Estate ETF offers investors the opportunity to invest in a variety of US…
Runway ML, the company behind text-to-image AI system Stable Diffusion, is hosting a festival of short films made using AI. Films with a runtime of between one and 10 minutes…