Wisconsin-based investment management firm Madison Investments has launched its fourth new actively managed ETF, rounding out its initial suite of funds that debuted last month.
The firm’s latest exchange-traded fund is the Madison Short Term Strategic Income ETF (MSTI), designed to generate a high level of current income by allocating to a diverse set of fixed income sectors and individual securities within a typical duration range of three to five years.
Mike Sanders, the firm’s head of fixed income, together with Allen Olson and Chris Schroeder, a team with a combined 70 years of experience, will manage the fund, which has an expense ratio of 0.40%.
“Through our active management approach, our fixed income ETFs are designed to help investors capitalize on the opportunities presented by this current rising rate environment,” said Sanders. “We created MSTI and its companion fund, MAGG, to address the growing need for fixed income strategies that generate yield from the bond market with a proactive approach to risk.”
The Madison Short Term Strategic Income ETF joins three other funds in the suite: The Madison Aggregate Bond ETF (MAGG), which launched last week; Madison Covered Call ETF (CVRD) which launched on Aug. 21, and the Madison Dividend Value ETF (NYSE: DVIL) which launched on Aug. 14.
The firm has approximately $22.9 billion in assets under management as of June 30, 2023 and is about to mark its 50th anniversary having been founded in 1974.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
