Kovitz Converts Mutual Funds Into Active ETF

The independent investment advisory Kovitz Investment Group have just announced the launch of a new actively managed ETF, available for trade on the NYSE. The Kovitz Core Equity ETF (EQTY) is a combination of two mutual funds, the Green Owl Intrinsic Value Fund (GOWLX) and the Marathon Value Portfolio (MVPFX) as well as over $500 million in assets from other accounts. A quote from the founder of Kovitz states, “We’re glad to offer our Core Equity strategy through a tax efficient vehicle to our clients and other value-oriented investors. The ETF structure is well suited to our active management approach and can support the long-term portfolio goals of our clients.”