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RE Makes Time Call for Swiss Yield ETF

AGP Investment Management has canceled its exit from the Swiss Higher Yield Active ETF managed by Cooler after it failed to resonate with investors.

Marty Switzer, CEO of Contango Asset Management, said: James Brickwood

“RE believes it is highly unlikely that the Fund will achieve this objective and reach sufficient size to invest in accordance with an investment strategy designed to be economically viable.”
For investors,” the responsible entity said in a deal update, announcing its intention to exit the fund.

Contango’s Marty Switzer partnered with Chris Joy’s Cooler Capital in 2020 to launch a fund in Chi-X (now Cboe) with plans to reach more independent and advice-seeking retail investors. However, after raising more than $14 million in its relaunch and expanding the fund to more than $37 million, the Swiss Higher Yield continues to drain and is now at $12 million.

“Therefore, RE has formed the view that it is in the investors’ best interests to return the capital and exit the fund,” said AGP Investment Management.

Switzer is COO of Swiss Financial Group, a media and financial services business founded by veteran financial commentator Peter Switzer.

The fund sought to deliver cash yields with low capital volatility by investing in a portfolio of high quality, highly liquid bonds. The end date is set for June 8th and the final distribution will be paid out to investors on June 21st.

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