The RBB Fund completes the Motley Fool Mutual Fund to ETF conversions
The RBB Fund has announced the completion of the Mutual Fund to ETF conversions for two funds advised by Motley Fool Asset Management: The MFAM Global Opportunities Fund (Tickers: FOOLX/FOIIX) converted into the Motley Fool Global Opportunities ETF (Ticker: TMFG) and the MFAM Mid-Cap Growth Fund (Tickers: TMFGX/FOGIX) converted into the Motley Fool Mid-Cap Growth ETF (Ticker: TMFM), at the close of business on December 10, 2021.
Together, the funds represent about USD1 billion in assets under management, with both funds being housed with The RBB Fund, Inc, whose turn-key service platform allows managers to focus on managing the Funds’ investments.
RBB writes that this marks the second conversion that it has overseen and completed this year, previously converting certain separately managed accounts (SMA) into the Stance Equity ESG Large Cap Core ETF. That transition remains one of the first SMA to ETF conversions within the investment community.
“The number of prospective conversions into ETFs remains high,” says RBB’s Chairman Arnold Reichman. “Our experience distinguishes our value add – having successfully completed two separate conversions (SMA and Mutual Funds) into an ETF, each with their own nuances. At RBB, we pride ourselves on staying ahead of the trends, servicing the demands of the marketplace and our clients.”