The company First Manhattan Co. have just announced the launch of their first ETF, the FMC Excelsior Focus Equity ETF (FMCX). FMCX will be semi-transparent and actively managed with plans to track high-conviction companies from First Manhattan’s research group. In a statement the CEO of First Manhattan stated, “Over the past six decades, we have honed a distinctive, fundamentals-based investment approach, and we are compelled to offer this strategy to a broad range of institutional and retail investors in the form of an innovative ETF.”
ETF Newz Says:
FMCX is looking to follow companies seen as competitive with long-term growth possibilities.
