ETFs & Mutual Funds
A $500 Million ETF Will Be Next Big Launch in Tax-Busting Trend
- Missouri-based wealth manager Hill Investment plans new fund
- Investors will swap existing securities for shares in product
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A Missouri-based wealth manager is poised to join the small but growing list of firms who have flipped assets into exchange-traded funds to help investors slash their tax bills, prepping one of the largest launches of its kind.
Hill Investment Group is planning a February debut for the Longview Advantage ETF (ticker EBI), which will start trading with an estimated $500 million of assets. Those have been raised mostly from a long list of investors, each of whom is handing securities they already own to the fund in exchange for shares in the new pooled vehicle.