The team at a $59.98-billion-AUM, multiboutique asset manager is rolling out a new, passively managed, small cap fund.

Kristof Marius Gleich Harbor Capital Advisors, Inc. President, Chief Investment Officer

Last week, Kristof Gleich, president and chief investment officer of Harbor Capital Advisors, Inc. [profile], unveiled the launch of the Harbor AlphaEdge Small Cap Earners ETF (EBIT on the NYSE Arca, Inc.). The new ETF is a series of Harbor ETF Trust.

EBIT's inception date was last Tuesday, July 9, and the new fund comes with an expense ratio of 29 basis points. As of Friday, it had $5.553 million in AUM.

Harbor serves as investment advisor and index provider to EBIT, which is designed to track the Harbor AlphaEdge Small Cap Earners Index. Solactive AG calculates, distributes, and publishes the index. The new ETF's PM team includes: Stephen Cook, managing director of ETFs; and James Erceg, executive vice president and head of product.

"We built EBIT as a solution for advisors who are cautious about small caps given concerns about profitability levels," Gleich states. "We've responded with a straightforward, repeatable investment approach that we feel strongly has greater potential to generate immediate and long-term compelling returns for clients." 

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