ClearShares launches ClearShares Piton Intermediate Fixed Income ETF

ClearShares is to launch the ClearShares Piton Intermediate Fixed Income ETF on 2 October, 2020 on the New York Stock Exchange. 

Piton Investment Management will serve as sub-adviser to the Fund and be responsible for investment management.

The ClearShares Piton Intermediate Fixed Income ETF (PIFI) is a diversified portfolio of high credit-quality, intermediate-duration¹ bonds actively managed by Piton’s team of experienced investment professionals. The Fund primarily invests in investment-grade corporate bonds, US government treasuries and government agency debt.

Piton Investment Management provides customised portfolio management to direct clients and the RIA community primarily through separately managed accounts. Piton clients have utilised the Intermediate Fixed Income strategy as a separately managed account solution, and the PIFI ETF allows Piton to offer this strategy to a broader investor-base. The PIFI ETF gives clients efficient access to Piton’s institutional quality bond management without having to meet account minimums that are generally associated with separately managed accounts.

PIFI focuses on maximising total-return while striving to deliver conservative goals of income generation, capital preservation, and liquidity. The Fund aims to have an average life and interest rate risk profile lower than many “core” intermediate fixed income ETFs currently available in the marketplace today. The Fund integrates the cost-efficiency², liquidity, and transparency of the ETF structure with experienced professional bond management.

“The PIFI strategy can be a ‘cornerstone’ fixed income solution for any asset allocation,” says Brian Lockwood, Head of Fixed Income at Piton Investment Management. “The highly liquid components, diversification, and moderate interest rate risk provide an important portfolio ‘safety valve’, while allowing investors to participate in bond market returns and income generation.”

Tom Deegan, CEO of ClearShares, notes: “ClearShares is very excited to partner with Piton on the PIFI ETF. Piton was a natural partner for the ClearShares platform given their longstanding leadership in the fixed income advisory space and experience delivering their intermediate fixed income strategy. PIFI will be a great addition to the ClearShares family of ETFs.”