Kovitz Launches Active ETF

Rhea-AI Summary

Kovitz Investment Group Partners, based in Chicago, has launched the Kovitz Core Equity ETF (NYSE Arca: EQTY), converting its existing mutual funds, Green Owl Intrinsic Value Fund and Marathon Value Portfolio, along with over $500 million from separately managed accounts into this new actively managed ETF. This transition aims to enhance tax efficiency and better serve clients' long-term investment goals. Kovitz manages approximately $7.1 billion in client assets as of November 30, 2022.

Positive

• Launch of the Kovitz Core Equity ETF allows for more tax-efficient investments.
• Conversion of existing mutual funds and significant assets enhances ETF's credibility.
• Kovitz has a strong track record with over $7.1 billion in client assets.

Negative

• None.

Chicago-based Investment Advisory and Wealth Management Firm Converts Mutual Funds

CHICAGO, Dec. 12, 2022 /PRNewswire/ -- Kovitz Investment Group Partners, LLC ("Kovitz"), an independently-managed investment advisory and value-oriented wealth management firm based in Chicago, is pleased to announce the launch of a new actively managed exchange-traded fund, Kovitz Core Equity ETF (NYSE Arca: EQTY). 

As part of today's launch, Kovitz converted its existing mutual funds – Green Owl Intrinsic Value Fund (GOWLX) and Marathon Value Portfolio (MVPFX) – into the new ETF along with over $500 million of assets from separately managed accounts.

We believe this move allows Kovitz to opportunistically enter the ETF business and continue its history of bringing attractive solutions in an evolving marketplace, said Mitchell Kovitz, Principal and Founder of Kovitz. "We're glad to offer our Core Equity strategy through a tax advantaged vehicle to our clients and other value-oriented investors. The ETF structure is well suited to our active management approach and can support the long-term portfolio goals of our clients." 

ETFs can be more tax efficient than traditional mutual funds. The main advantage of an ETF structure is that it allows the investor to defer the some of their capital gains until they sell their ETF shares.

The Kovitz Core Equity ETF is built around the Kovitz Core Equity flagship product that has traditionally been offered via separately managed accounts and mutual fund clients for 25 years. Designed to be the cornerstone of an investor's equity exposure with a focus on compounding capital for clients, the Kovitz Core Equity strategy pursues investments in undervalued high-quality companies with strong balance sheets that consistently generate high returns on capital and reinvest in their businesses.

About Kovitz

Kovitz Investment Group Partners, LLC, is an independently-managed registered investment advisor, providing advisory services since 2003. Based in Chicago, IL, with offices in Madison, WI and Orange County, CA, Kovitz provides investment management, wealth management, and financial planning services to individual and institutional clients. The firm manages and advises on approximately $7.1 billion in client assets as of November 30, 2022. https://www.kovitz.com/

You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund's prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the Fund's prospectus by calling 1-888-695-3729. Past performance is no guarantee of future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.

Distributed by Northern Lights Distributors, LLC (Member FINRA/SIPC). Kovitz and Northern Lights Distributors, LLC are not affiliated.

Media Contact
Jay Scott
jscott@gavniadv.com
484-695-3774

View original content:https://www.prnewswire.com/news-releases/kovitz-launches-active-etf-301700528.html

SOURCE Kovitz Investment Group Partners

FAQ

What is the Kovitz Core Equity ETF launched by Kovitz?

The Kovitz Core Equity ETF (NYSE Arca: EQTY) is a new actively managed exchange-traded fund that aims to provide tax-efficient investment solutions.

How much did Kovitz convert from mutual funds to the new ETF?

Kovitz converted over $500 million from its existing mutual funds and separately managed accounts into the Kovitz Core Equity ETF.

What is the investment strategy of the Kovitz Core Equity ETF?

The ETF focuses on investing in undervalued high-quality companies with strong balance sheets and aims to compound capital for clients.

When was the Kovitz Core Equity ETF launched?

The Kovitz Core Equity ETF was launched on December 12, 2022.

What are the advantages of the Kovitz Core Equity ETF?

The ETF structure is designed to be more tax efficient than traditional mutual funds, allowing investors to defer some capital gains.