MutualFundWire.com: 2 B-D Leaders' New Shop Enters the ETF Sector

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Monday, April 29, 2024

2 B-D Leaders' New Shop Enters the ETF Sector

A Sunshine State, B-D-adjacent startup's team is rolling out their first fund.

Rameshwar "Ramu" Singh
PeakShares LLC
President, Co-Portfolio Manager

The folks at PeakShares LLC are launching the PeakShares Sector Rotation ETF (PSTR on the Nasdaq), per a filing submitted on Friday. Tampa, Florida-based PeakShares is led (and principally owned) by CEO Randy Ciccati and president Ramu Singh, who also serve as CEO and president of advisory services, respectively, at nearby Calton & Associates, Inc.. (Calton is a a broker-dealer and RIA with about 400 advisors and more than $6 billion in client assets.)

PSTR appears to be the first fund where PeakShares serves as investment advisor. The new, actively managed ETF is a series of Northern Lights Fund Trust II and comes with an expense ratio of 105 basis points (which bakes in a 22bps fee waiver promised through June 30, 2025).

Singh and Rohan Bahri, a former Calton research analyst, serve as co-PMs of PSTR.

The new fund's other service providers include: Alston & Bird LLP as counsel to the trust; Blank Rome LLP as counsel to the independent trustees; Brown Brothers Harriman & Co. as custodian, dividend disbursing agent, shareholder servicing agent, and transfer agent; Northern Lights Compliance Services, LLC (NLCS) as chief compliance officer provider; Northern Lights Distributors, LLC as distributor; Tait, Weller & Baker LLP as independent accounting firm; and Ultimus Fund Solutions as administrator and fund accountant.

Printed from: MFWire.com/story.asp?s=67354

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