NEW YORK--(BUSINESS WIRE)--Rockefeller Asset Management (“Rockefeller”), the asset management arm of Rockefeller Capital Management, today announced its expansion into opportunistic municipals, including high yield municipal investments, with the launch of three actively managed exchange traded funds (“ETFs”). The first day of trading is expected to be on or about August 14.
- Rockefeller Opportunistic Municipal Bond ETF (RMOP)
- Rockefeller California Municipal Bond ETF (RMCA)
- Rockefeller New York Municipal Bond ETF (RMNY)
Veteran portfolio managers Scott Cottier, CFA, Mark DeMitry, CFA, and Michael Camarella, CFA, will manage the funds, having joined Rockefeller in June 2024 from Invesco. Cottier, DeMitry, and Camarella have over two decades of experience investing together, and prior to their arrival at Rockefeller, the team was listed as portfolio managers on strategies accounting for over $25 billion in assets.
These vehicles are Rockefeller’s first actively managed fixed income ETFs, seeking to provide investors with exposure to municipal bonds, across the high yield and high-grade segments of the market, with the goal of delivering high tax-efficient income. This expansion provides increased choice in how investors can access Rockefeller’s innovative suite of investment solutions.
“We believe higher yielding municipal bonds represent a compelling asset class with tax-efficient yields and income as well as historically low correlations versus equities,” said Alex Petrone, Director of Fixed Income at Rockefeller Asset Management. “We are thrilled to expand our capabilities with this deeply tenured team that has managed strategies through many market cycles with a yield-driven total return approach seeking to capitalize on inefficiencies in the municipal market.”
“In our view, high yield municipal bonds may benefit from a favorable fundamental and technical backdrop and remain an essential component of a diversified investment portfolio for high taxpayers,” added Cottier, Portfolio Manager at Rockefeller Asset Management. “We are excited to leverage our collective experience and capabilities to identify opportunities across the credit and duration spectrum as we seek to deliver alpha through these actively managed strategies.”
For more information and to learn more about Rockefeller’s active ETF platform, visit rockefelleretfs.com.
About Rockefeller Asset Management
Rockefeller Asset Management serves institutions, financial professionals, and other institutionally minded investors through equity, fixed income, and alternative solutions that seek outperformance driven by a disciplined investment process. Rockefeller Asset Management is committed to continually building partnerships and expanding its platform that seeks to put clients and their performance first. As of June 30, 2024, the division had $15.2 billion of assets under supervision.1
Disclosures
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (888) 123-4589 or visit our website at www.rockefelleretfs.com. Read the prospectus or summary prospectus carefully before investing.
Investing involves risk. Principal loss is possible.
Municipal Securities Risk. Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions, credit rating downgrades, or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest or otherwise affect the value of such securities.
Interest Rate Risk. Generally, the value of fixed income securities will change inversely with changes in interest rates. As interest rates rise, the market value of fixed income securities tends to decrease.
High Yield Securities Risk. High-yield municipal bonds are considered speculative investments and are issued by entities that may be undergoing restructuring, are smaller or less creditworthy, or are more heavily indebted than other issuers.
Call Risk. The Fund may invest in callable bonds. If interest rates fall, it is possible that issuers of callable securities will “call” (or prepay) their bonds before their maturity date.
Fixed Income Risk. The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to changes in an issuer’s credit rating or market perceptions about the creditworthiness of an issuer.
High Portfolio Turnover Risk. The Fund may actively and frequently trade a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.
Leveraging Risk. The Fund is subject to the risk that certain transactions of the Fund (e.g., Inverse Floaters), may give rise to leverage, magnifying gains and losses and causing the Fund to be more volatile than if it had not been leveraged. This means that leverage entails a heightened risk of loss.
Liquidity Risk. The Fund is subject to the risk that a particular investment may be difficult to purchase or sell and that the Fund may be unable to sell illiquid investments at an advantageous time or price or achieve its desired level of exposure to a certain sector.
New Fund Risk. The Fund is a recently organized management investment company with limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decisions.
Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.
This information was prepared by Rockefeller Asset Management, a division of Rockefeller & Co. LLC, which is wholly owned by Rockefeller Capital Management, solely for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy interests in any Rockefeller Capital Management investment vehicle, product or service. This information may not be copied, reproduced or distributed without Rockefeller’s prior written consent and is not valid without a consultation with a representative of Rockefeller.
Rockefeller Capital Management is the marketing name of Rockefeller Capital Management L.P. and its affiliates. Investment advisory, asset management and fiduciary activities are performed by the following affiliates of Rockefeller Capital Management: Rockefeller & Co. LLC, Rockefeller Trust Company, N.A., The Rockefeller Trust Company (Delaware) and Rockefeller Financial LLC, as the case may be.
©2024 Rockefeller Capital Management. All rights reserved. Does not apply to sourced material. Products and services may be provided by various affiliates of Rockefeller Capital Management.
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Alpha: A measure of the active return on an investment, the performance of that investment compared with a suitable market index.
1. Assets Under Supervision (AUS) as of June 30, 2024. AUS is inclusive of firm assets under management of $14.9 billion and firm assets under advisement of $0.3b.
