NEW YORK--(BUSINESS WIRE)--First Manhattan, a $32B AUM independently owned and operated investment advisory firm, today announced the launch of FM Compounders Equity ETF (ticker: FMCE), an actively managed ETF that invests in First Manhattan’s highest-conviction ideas driven by its rigorous fundamentals-based approach. The ETF will invest in 25 to 35 U.S. publicly traded equities that First Manhattan believes are highly resilient and capable of reliably generating and compounding free cash flow.
Zachary Wydra, CEO of First Manhattan, said, “FMCE offers a compelling opportunity to invest in companies that have demonstrated an ability to generate durable and recurring free cash flow, as well as the capacity to deploy their free cash flow to create shareholder value over time.”
“We use deep fundamental research to identify companies for investment,” said Himayani Puri, Partner, Head of Research at First Manhattan and Portfolio Manager for the First Manhattan Excelsior ETFs. “We seek to purchase shares at valuations that we believe are favorable relative to the quality of the company’s business, its earnings, and our expectation for long-term growth in value-per-share.”
FMCE is now the second ETF under the First Manhattan Excelsior ETFs banner, following the April 2022 launch of FM Focus Equity ETF (ticker: FMCX).
“We are pleased to deliver to investors and advisors another actively managed, research-driven, and tax-efficient portfolio with competitive fees,” said Ben Clammer, a Managing Director at First Manhattan and Product Manager for the First Manhattan Excelsior ETFs.
About First Manhattan
First Manhattan is a $32B+ AUM investment advisory firm with six decades of experience in compounding wealth over the long term. The Firm seeks to deliver strong financial returns, customized wealth planning advice, and personalized client service.
Central to the Firm is a deeply rooted commitment to research. Portfolio construction across First Manhattan is supported by the work of a dedicated research team consisting of senior analysts who focus on fundamental work to evaluate businesses from the bottom up, with the goal of creating a portfolio of companies believed to have the highest potential of generating outperformance over the long term.
Since its founding in 1964, First Manhattan has been independently owned and operated. The Firm and its principals were original investors in the entity that became known as Berkshire Hathaway.
About FM Compounders Equity ETF (ticker: FMCE)
Through fundamental research and bottom-up stock selection, FMCE seeks to invest in businesses that First Manhattan believes are highly resilient and capable of reliably generating and compounding free cash flow. FMCE comprises an actively managed portfolio with a target of 25 to 35 U.S. publicly traded equities. First Manhattan Co. LLC is the investment advisor to FMCE. For more information, please visit www.fmce.com.
Investors should consider the investment objective, risks, and charges and expenses of the Fund before investing. The prospectus and summary prospectus contains this and other information about the Fund and should be read carefully before investing. The prospectus may be obtained at 888.530.2448 or www.fmce.com.
The FM COMPOUNDERS EQUITY ETF is distributed by Northern Lights Distributors, LLC (Member FINRA/SIPC). Northern Lights Distributors, LLC is not affiliated with First Manhattan. The Fund is a new ETF with a limited history of operations for investors to evaluate. Unlike traditional ETFs, the Fund does not tell the public what assets it holds each day. Instead, the Fund provides a VIIV, calculated and disseminated every second throughout the trading day. Investing involves risk, including loss of principal. There is no guarantee that the Fund will achieve its investment objective. Investment return and principal value of security investments will fluctuate. The value at the time of redemption may be more or less than the original cost. This Fund may invest in a limited number of companies, which carries more risk because changes in the value of a single company may have a more significant effect, either negative or positive on the Fund's value. Because the shares are traded in the secondary market, a broker may charge a commission to execute a transaction in shares, and an investor also may incur the cost of the spread between the price at which a dealer will buy shares and the somewhat higher price at which a dealer will sell shares.
