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June 15, 2020 at 10:26 AM
Franklin Templeton expanded its active exchange-traded fund lineup with the addition of its ninth active fixed income ETF offering: Franklin Liberty U.S. Treasury Bond ETF (FLGV)
FLGV, trading on the NYSE Arca with a net exchange ratio of 0.09%, seeks income by investing mainly in Treasury bonds, bills and notes, and investments that the company said provide exposure to direct obligations of the U.S. Treasury.
FLGV, managed by Patrick Klein and Warren Keyser, senior vice president, adds a Treasury-bond focused option to the company’s active fixed income ETF lineup that also includes investment grade, high yield, muni and international bond ETFs along with a short duration U.S. government ETF and senior loan ETF.
“The launch of FLGV further exemplifies our steadfast belief that active management is critical to achieving investor goals in fixed income,” according to Patrick O’Connor, global head of ETFs for Franklin Templeton. “Franklin Templeton Fixed Income has engineered a seamless active quant approach—where portfolio managers, analysts, traders and data scientists work as one team to create a synergistic loop between quantitative and fundamental analysis,” he said in a statement.
AQR Launches Diversifying Strategies Mutual Fund
AQR Capital Management introduced the AQR Diversifying Strategies Fund in three separate classes: I, with a net expense ratio of 1.62%; N, 1.87%; and R6, 1.52%.
The new mutual fund was “designed to be a single solution to gain exposure to liquid alternatives with attractive long-term risk-adjusted returns by investing in a portfolio of AQR’s alternative mutual funds,” the company said.
The fund is “intended to serve as a complementary addition to an investor’s traditional stock and bond portfolio,” it said.
The fund is managed by AQR’s Multi-Strategy team and offers exposure to active multi-asset strategies and absolute return strategies. Active multi-asset strategies such as risk parity will provide tactical, risk-balanced, active global market exposure. Absolute return strategies, such as managed futures, “will seek to harvest well-established risk premia and provide exposure to less accessible, more proprietary sources of return,” the company said.
The underlying AQR mutual funds that comprise the portfolio are: AQR Multi-Asset Fund, AQR Equity Market Neutral Fund, AQR Global Macro Fund, AQR Managed Futures Strategy HV Fund, AQR Style Premia Alternative Fund and AQR Diversified Arbitrage Fund.
Amplify to Liquidate EASI Tactical Growth ETF
Amplify ETFs is liquidating the Amplify EASI Tactical Growth ETF (NYSE Arca: EASI, with a net expense ratio of 0.81%).
The fund’s investment advisor, the Board of Trustees of the Amplify ETF Trust, “unanimously determined that it was in the best interests of the Fund and its shareholders to liquidate” it, the company said in its announcement.
