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Portfolio > ETFs

Pacific Global ETFs Adds Income-Focused Fund: Portfolio Products

By Jeff Berman

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A floating-rate loan exchanged-traded fund has been added to the line of Pacific Global ETFs, one of the fund families fielded by Newport Beach, California-based Pacific Life.

Pacific Global Senior Loan ETF (FLRT) is an actively managed fund that was “designed to produce income from floating-rate loans (also known as senior loans) and floating-rate debt securities,” the company said. The ETF was previously AdvisorShares’ Pacific Asset Enhanced Floating Rate ETF.

The Pacific Global Senior Loan ETF, which has a net expense ratio of 0.68% and is trading on the New York Stock Exchange, was added to the firm’s line after Pacific Global ETFs recently completed the adoption of AdvisorShares’ Pacific Asset Enhanced Floating Rate ETF. Shareholders voted to approve the merger and reorganization into the Pacific Global Senior Loan ETF in late 2019.

The Pacific Asset Enhanced Floating Rate ETF’s existing assets transitioned to the Pacific Global Senior Loan ETF, the firm said. Pacific Life’s Pacific Asset Management division, which manages over $4.5 billion in floating-rate loan strategies, continues to manage the ETF as its sub-advisor.

Passive management is an “inefficient strategy for floating-rate loan funds,” according to Anthony J. Dufault, managing director of Pacific Global ETFs. The company’s team is looking to “add value by carefully selecting highly liquid, floating-rate loans of non-investment-grade companies,” he said in a statement.

Dynamic Beta Partners With iM Global Partner on Hedge Fund ETF

Dynamic Beta investments teamed with iM Global Partner to launch the actively-managed iM DBi Hedge Strategy ETF (DBEH).

The new ETF has an expense ratio of 0.85% with no other fees and is trading on NYSE. It’s seeking to match or outperform the performance of the largest global equity long/short hedge funds from the Hedge Fund Research database, the firms said. Its objective is “long-term capital appreciation by investing in multiple asset classes such as equities, fixed income and currencies through futures and forwards contracts,” they noted.

The ETF is the second Dynamic Beta product developed since iM Global Partner bought a minority stake in DBi in the third quarter of 2018, the companies noted.  The fund is being advised by iM Global and is sub-advised by DBi.  iM Global’s distribution team will introduce the fund to a broad range of investors across wealth management, institutional and other channels, according to the companies.

StoneCastle’s FICA For Advisors Joins Race to Zero

StoneCastle Cash Management eliminated the minimum initial deposit within its FICA For Advisors high-yield cash account.

The modification was made “in response to overwhelming demand by advisors and other wealth managers to make FICA For Advisors their go-to insured cash vehicle for non-transactional cash,” the New York City-based company said.

Advisors “told us they wanted us to make it easier for more of their clients to use it by lowering the initial deposit,” according to Kyle McAndrew, head of intermediary sales at StoneCastle. “We decided to lower it to zero to make it as accessible to as many advisors and their clients as possible,” he said in a statement.

FICA For Advisors was introduced about a year ago into the wealth management space as an insured cash program to help advisors attract held-away cash mainly with high net worth clients. There are now “hundreds of advisor clients utilizing it every day,” the firm said.

SkyView CEO Touts Advisory Practice Board of Exchange; REX Shares Gets Boost From BMO

Explaining some of the strategy that went into the Advisory Practice Board of Exchange that SkyView Partners recently launched, company CEO Scott Wetzel told ThinkAdvisor that his firm was “trying to provide the tools to incentivize sellers to come to market when there’s attractive valuations and attractive access to bank financing.” The subscription-free turnkey solution for buying and selling wealth management practices was designed to be an “ecosystem for buyers, sellers, M&A consultants and lenders,” he said. Prior to its fall launch, the site attracted 10-30 visitors a day during a restricted access phase, then started to  attract an average of 400-600 unique daily visitors by late October, said Wetzel.

REX Shares said it received a lift from Bank of Montreal, which has increased the aggregate principal amount of REX’s MicroSectors FANG+ -3X Inverse Leveraged Exchange Traded Notes (FNGD) that trade on the NYSE Arca exchange to a new total of $125 million. The ETNs were issued by BMO and launched on Jan. 22, 2018.  The bank invested a total $50 million in December and January in the ETN which includes 10 highly liquid stocks representing industry leaders across tech and internet/media companies.

Check out last week’s portfolio product roundup here: Horizons NASDAQ-100 Index ETF Strategy Adjusted: Portfolio Products

 

Jeff Berman

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