Gemini and Arrow to launch Northern Lights ETF Trust
Gemini Fund Services and Arrow Investment Advisors have teamed up to launch the Northern Lights ETF Trust (NLET), a shared fund trust designed to bring innovative exchange-traded funds to market.
NLET will provide benefits to advisers similar to Gemini's shared fund trusts for mutual funds. The trust will be comprised of independent ETFs managed by separate investment advisers.
Like Gemini's shared mutual fund trusts, NLET will provide ETF advisers with operational efficiencies and economies of scale they would not be able to achieve on their own.
"The combined experience and expertise that Gemini has acquired from managing its shared mutual fund trusts and that Arrow has obtained from developing exchange-traded solutions that can thrive in today's ever-changing marketplace presents a powerful offering to advisers," says Andrew Rogers, chief executive of Gemini. "The Northern Lights ETF Trust will provide advisers with a complete suite of tools and support to overcome obstacles to market entry and bring their ETFs to investors."
On 8 May 2012, Arrow launched NLET's first ETF, the Arrow Dow Jones Global Yield ETF, which seeks investment results corresponding to the price and yield performance of the Dow Jones Global Composite Yield Index (before fees and expenses). Gemini and Arrow will partner with other advisers to create additional ETFs within NLET.
"We have a history of working with Gemini's mutual fund trust where they have had much success in helping advisers bring unique investment solutions to the marketplace," says Joseph Barrato, chief executive of Arrow Investment Advisors. "We are proud to continue our partnership and look forward to contributing our exchange traded fund expertise and exemptive relief status to help benefit those advisers seeking to gain entry into the ETF marketplace via NLET."
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