Liquid Alternatives: Leatherback Asset Management Launches Its First ETF

November 19, 2020 | Liquid Alternatives, News
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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

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