Sharks attacked by ETF
Shark Tank star Kevin O'Leary better watch his back!
Not only he is no longer the only entrepreneur expert with his own line of ETFs (O'Shares), but his new rival has unveiled a fund that does exactly what he and his fellow 'Sharks' do on the hit CNBC show: invest in entrepreneurs.
The rise of the robots is truly upon us.
The rival in question is portfolio manager Joel M. Shulman, whose EntrepreneurShares is taking on Mr Wonderful by registering its first ETF, the Entrepreneur 30 fund.
OK, so let's be honest the fund is unlikely to replace the show, firstly because that would make for very boring TV, and secondly because the fund invests in already-established entrepreneurs, not garage-based protein shake start-ups and rescue cat cafes.
It will use a proprietary set of quantitative and qualitative filters to screen for organizations that emphasize entrepreneurial culture, organic growth, and aligned compensation over corporate bureaucracy.
It will then track an index of the 30 largest publicly-traded companies that meet its criteria.
See, much more boring than five millionaires crushing mid life pipe dreams in the name of entertainment.
The fund will charge a management fee of 0.49% and will be run by Shulman, the founder and managing director of EntrepreneurShares, who has form in this market.
Since 1992, he has been a professor of entrepreneurship at Babson College, which is well-known for the its entrepreneurship programs.
The All Cap fund has returned 35.2% over three years and ranks 50th out of the 142 funds tracked by Citywire in the Small-cap Growth category.
It has also recently undergone a slight makeover changing names to the Entrepreneur US Small Cap fund on June 29, a move that means it will invest 80% of assets in small caps. Before it could invest up to 40% in large caps.
The US Large Cap fund has returned 33.3% over three years and ranks 103rd out of the 154 funds tracked by Citywire in the Large-cap Growth category.
Pacific Life floats two funds
Elsewhere, continuing the marine theme of today's round-up, Pacific Life has filed for two multi-asset offerings, the PF Multi-Asset fund and the PF Multi-Fixed Income fund.
Both funds will charge a 0.35% management fee and be run by a portfolio management team comprised of Howard T. Hirakawa, Carleton J. Muench, Max Gokhman, Samuel S. Park, Citywire + rated David Weismiller and Ying Qiu.
The multi-asset fund will primarily invest in derivatives to gain exposure to US and other developed large- and mid-cap equity markets, but will also invest a portion of assets in investment grade debt, including treasuries, MBS, ABS and corporate bonds.
The fixed income fund will invest in derivatives to gain exposure to the asset class categories that represent the broad US investment grade bond and US inflation-indexed debt securities markets.