Tidal Financial Group has just issued new plans to start conversion of one of their separately managed accounts (SMA) into an actively managed transparent ETF. They have officially registered the Days Absolute Return ETF which will convert one of their SMAs that has been offered since November 2018. A quote from Tidal’s COO states, “SMS-to-ETF conversions have received less attention — but it is also a q quickly growing area.” Tidal also announced that they’re in talks with around 50 investment advisors about more conversion of SMAs to ETFs as well as launching future funds that can recreate an SMAs strategy.
ETF Newz Says:
The new launch will be a fund of ETFs, planning to be invested in unaffiliated ETFs in U.S. and foreign equities.