Overlay Shares large cap equity ETF passes USD100m in assets
Liquid Strategies, the parent of Overlay Shares exchange-traded funds (ETFs), has announced that the Overlay Shares Large Cap Equity ETF (OVL) has surpassed USD100 million in assets under management since it began trading on the NYSE Arca in October.
OVL attaches an income overlay to a passively managed index ETF, aiming to generate income and boost yield.
The Overlay Shares ETF suite features five sought-after and highly liquid index ETFs with each ETF employing a disciplined risk-managed overlay strategy focused on generating tax-efficient income on top of underlying core ETF assets.
"The continued growth of the Overlay Shares ETF suite demonstrates the significant need that investors have for income given the historic low yield environment," says Shawn Gibson, Chief Investment Officer for Liquid Strategies and Overlay Shares, "We are excited to provide investors with a solution to this problem by seeking to generate supplemental income for five of the largest asset classes."