ROCKY MOUNT, N.C.–(BUSINESS WIRE)–The Nottingham Company, Inc. (“Nottingham”), a leading fund services administrator and white label issuer to the mutual fund and exchange-traded fund (“ETF”) industry, became perhaps the first administrator white label ETF issuer to file the necessary short form exemptive applications to offer non-transparent ETFs to new and existing clients.
Nottingham and affiliate investment advisor OBP Capital, and the Spinnaker ETF Series, filed short form exemptive relief applications with the Securities and Exchange Commission (“SEC”) for Blue Tractor’s Shielded Alpha℠ ETF Structure and the New York Stock Exchange’s (“NYSE”) AMS℠ Non-Transparent ETF Structure on Thursday April 16th.
“The ETF industry clearly has an interest in the adoption of non-transparent and semi-transparent ETF structures, preserving the portfolio manager’s valuable intellectual property,” observed Kip Meadows, Founder and CEO of Nottingham. “We believe these new products will open the ETF landscape to active portfolio managers, at a time when analysis of which companies are best positioned for our new economic environment is so important. The old index paradigms may have changed quite a bit.”
Katherine Honey, principal of OBP Capital LLC added, “Our ETF model is to partner with subadvisors who have ideas for mutual funds and ETFs, both active and passive. We want to be able to offer the best, most economical solutions available, and we believe both Blue Tractor and NYSE offer strong options for portfolio managers to consider.”
Terry Norman, Founder of Blue Tractor Group, LLC: “We are delighted to be working with Kip Meadows and the team at Nottingham, OBP Capital and the Spinnaker ETF Series. The Nottingham model will allow advisors to quickly launch proprietary active portfolio strategies as white label ETFs through Nottingham and its affiliates using Blue Tractor’s SEC-approved structure.”
“Nottingham and OBP Capital help expand access to the ETF market through their white label solution. The NYSE is excited to help grow the active, non-transparent market with these new products,” said Douglas Yones, Head of Exchange Traded Products at the NYSE.
Established in the late 1980s, Nottingham, a fund administration firm and white-label ETF issuer headquartered in Rocky Mount, N.C., provides consulting and ongoing accounting and administration for pooled investment vehicles including open end mutual funds, ETFs, closed end interval funds, private investment and hedge funds. The firm also offers unitized accounting and reporting solutions to foundations, endowments, and government investment pools. It remains one of the largest privately held fund administration firms in the U.S., currently administering approximately $30 billion in AUA.
Nottingham affiliate OBP Capital LLC was established to assist Nottingham clients with ETFs, holding exemptive orders for both active and passive ETF structures. OBP Capital provides the oversight and compliance management necessary to effectively operate as an ETF investment advisor and does not compete in any way with the subadvisor portfolio managers in Nottingham administered ETFs.