LTCM vet Haghani enters the ETF fray

LTCM vet Haghani enters the ETF fray
The move extends the growing parade of high-profile personalities and star strategists putting their names behind the popular investment vehicle.
SEP 30, 2024
By  Bloomberg

Ex-LTCM founder Victor Haghani has filed for an ETF, joining a string of wealth managers and strategists who have recently put their names behind the popular investment vehicle.

Haghani’s firm, Elm Wealth, on Friday submitted regulatory paperwork for the Elm Market Navigator ETF, a group of funds that would invest in mutual funds and active and passive ETFs, among other things. The new product would, if launched, rely on Elm’s “Dynamic Index Investing” whose baseline construction is composed of 75% equities and 25% fixed income. The adviser would then rebalance after evaluating each asset class based on a number of factors, including riskiness. 

A fee and ticker were not disclosed. 

Haghani founded Elm Wealth in 2011 to manage clients’ — as well as his own family’s — money. He had been a co-founding partner at Long-Term Capital Management in the 1990s after a stint at Salomon Brothers. 

Elm clients can currently invest their money with the firm via a private fund or a separately managed account. The firm’s website lists an “active index investing” asset-allocation methodology, which constructs a baseline portfolio that adds value and momentum overlays that make it “responsive to changing market conditions.”

A number of high-profile names, and, increasingly, strategists and research shops, have applied for their own ETFs of late. Rob Arnott, the founder of Research Affiliates, recently launched a product, while economist Nouriel Roubini has filed to do so as well. The list of those who have already put out their own or are looking to do so includes Fundstrat’s Tom Lee, Fairlead’s Katie Stockton, Jim Bianco of Bianco Research, and others. Meanwhile, some large ETF issuers have put some of their star strategists or portfolio managers behind new ETFs. That includes two BlackRock funds, one being the nearly $6 billion Flexible Income ETF (ticker BINC), for the firm’s bond chief Rick Rieder. 

Latest News

Most retirees are now carrying credit card debt
Most retirees are now carrying credit card debt

Over half of people retiree sooner than expected, and rising costs due to inflation, along with unexpected expenses, are leading a growing proportion of retirees to turn to credit cards, EBRI found.

Corient, formerly CI Private Wealth, targets 2026 for IPO
Corient, formerly CI Private Wealth, targets 2026 for IPO

During the third quarter, Corient completed the acquisitions of two firms.

Trump's second term poses fresh risk to ESG investing
Trump's second term poses fresh risk to ESG investing

The president-elect's policies, mirroring the playbook he used eight years ago, creates challenges for the already declining space

Not all advisors on bitcoin bandwagon, despite record returns
Not all advisors on bitcoin bandwagon, despite record returns

Bitcoin may be hitting all-time highs, but that's not fazing some advisors who still view the cryptocurrency with skepticism.

Raymond James nabs more Edward Jones advisors in Washington
Raymond James nabs more Edward Jones advisors in Washington

The wealth management giant has bolstered its independent advisor arm again with the latest additions in the Pacific Northwest.

SPONSORED Out with the old and in with the new: a 50% private markets portfolio

A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.

SPONSORED Destiny Wealth Partners: RIA Team of the Year shares keys to success

Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.