Led by renowned investor Gary Black, the Fund buys companies that it
believes can best exploit the wave of disruptive innovation and
shorts companies most likely to lose value as their businesses are
disrupted.
CHICAGO, June 21,
2023 /PRNewswire/ -- The Future Fund LLC, an
SEC-registered investment advisor led by Gary Black and David
Kalis, announced today the launch of the Future Fund
Long/ Short ETF (NYSE:
FFLS) on the New York Stock
Exchange effective June 21,
2023.
FFLS is a high-conviction, risk-managed long/short strategy that
provides the potential to capitalize on key megatrends driving the
economy. Portfolio managers Black and Kalis bring decades of
investment experience to the Fund and use a deep fundamental
research process to select concentrated investments that may profit
from emerging technological or social trends and developments. One
of only a handful of fundamental-driven long/short ETFs, FFLS fills
a gap in the investment marketplace and provides a unique
opportunity to invest in a hedged portfolio of leading secular
growth companies ideal for today's choppier economic
environment.
"Global forces are impacting businesses, economies, and
individuals, and unleashing macro trends that will produce both
winners and losers – transformative companies that will capitalize
on these trends, and companies that will fail to adapt and be
unable to keep up with the leaders," said Mr. Black. "We believe
our deep fundamental research gives us early insight into both long
and short opportunities."
The Future Fund has identified 10 megatrends that have the
potential to reshape the structure of industry, including social
networking, mobility, e-commerce, AI and automation, big data and
security, people living longer, fintech, lifestyle betterment, 24/7
information and entertainment, and climate sustainability. The
portfolio managers believe these are the key drivers to long-term
secular growth opportunities in the global market.
"Our investment process recognizes the disruptive innovation
that is reshaping the economy, and it identifies the transformative
companies that will displace legacy industry incumbents in several
key sectors," said Kalis. "We're looking for companies that will
change the world across multiple industries and we believe they
will have strong tailwinds for investors."
As Managing Partner of The Future Fund LLC, Black has extensive
experience spanning nearly 30 years in top management positions at
some of the most well-respected global investment management firms.
As CEO of Aegon Asset Management U.S., he oversaw $120 billion in assets. In 2009, Black launched
and managed Black Capital, a top-performing fundamental-based
global long/short equity firm. The firm was acquired in 2012 by
Calamos Investments, where Black became Global Co-Chief Investment
Officer. At Janus Capital Group, he was named CEO in 2006 at age 45
after turning around investment performance as CIO and growing net
flows to +$2 billion/year from -$29
billion in outflows in 2004 after the tech bubble burst,
market timing charges, and the departure of Janus' founder and CEO.
Prior to Janus, Black was Chief Investment Officer of Equities and
a partner at Goldman Sachs Asset Management. Black has an MBA from
Harvard Business School and BS in
Economics from The Wharton School of the University of Pennsylvania.
As Partner and co-founder of The Future Fund LLC, Kalis has more
than 25 years' experience managing small- and mid-cap growth
portfolios and leading investment research teams. Prior to the
Future Fund, he founded Curvature Capital Management, LLC, a
long/short equity hedge partnership focused on catalyst-driven
global equities. Performance for the firm ranked in the top decile
of long/short equity hedge funds. At Calamos, Kalis led Growth
Equity Strategies responsible for $6
billion in assets in mutual funds, institutional and
separately managed strategies. He also founded and managed another
long/short hedge fund partnership, Charis Capital Management LLC,
focused on SMID-cap equities. He also worked for Northern Trust
Asset Management and Segall Bryant
& Hamill. Kalis is a Chartered Financial Analyst, awarded in
1994, and a member of the CFA Society of Chicago. He received a BA in Economics from
the University of Michigan.
FFLS is The Future Fund's second exchange traded fund. The
Future Fund Active ETF (FFND) launched in August 2021.
About The Future Fund LLC, advisor to The Future Fund
Long/Short ETF
The Future Fund LLC, is an SEC-registered investment advisor
focusing on companies with secular growth opportunities created by
fundamental change in their markets that the partners believe can
change the world. The firm manages concentrated, high-conviction
portfolios for clients in both a long-only and a hedged equity
structure in addition to an actively managed ETF. The firm's
goal is to discover unrecognized equity value, believing that
transformative companies will displace legacy industry incumbents
over time.
More information about the advisor is available
at https://thefuturefund.com and about the ETF at
https://futurefundetf.com.
Investors should consider the investment objectives, risks,
and charges and expenses of the Funds before investing.
The FFND prospectus and
the FFLS prospectus contains this and other
information about the Funds and should be read carefully before
investing. The prospectuses may also be obtained by
calling 877.466.7090.
Definitions
Megatrends - Major movements, patterns or trends emerging in
the macroenvironment; an emerging force likely to have a
significant impact on the kinds of products consumers will wish to
buy in the foreseeable future.
IMPORTANT INFORMATION
Investing involves risk, including loss of principal.
There is no guarantee that the Funds will achieve their investment
objectives. In general, prices of equity securities are more
volatile than those of fixed income securities. The prices of
equity securities fluctuate in response to issuer-specific
activities as well as factors unrelated to the fundamental
condition of the issuer, including general market, economic and
political conditions along with other factors. While the shares of
ETFs trade on secondary markets, they may not readily trade in all
market conditions and may trade at significant discounts in periods
of market stress. The Funds were recently organized with no
operating history. In addition, the Advisor has not previously
managed an ETF, which may increase the risks of investing in the
Funds.
Short selling involves the sale of securities borrowed from a
third party. The short seller profits if the borrowed security's
price declines. If a shorted security increases in value, a higher
price must be paid to buy the stock back to cover the short sale,
resulting in a loss. The Funds may incur expenses related to short
selling, including compensation, interest or dividends, and
transaction costs payable to the security lender, whether the price
of the shorted security increases or decreases. The amount the
Funds could lose on a short sale is theoretically unlimited. Short
selling also involves counterparty risk – the risk associated with
the third party ceasing operations or failing to sell the security
back.
The Funds are actively managed and are thus subject to
management risk. The Adviser will apply its investment techniques
and strategies in making investment decisions for the Funds, but
there is no guarantee that its techniques will produce the intended
results.
Shareholders may pay more than NAV when buying Fund shares and
receive less than NAV when selling Fund shares, because shares are
bought and sold at current market prices. The performance quoted
represents past performance and does not guarantee future
results.
Shares of The Future Fund ETFs are bought and sold at market
price (not NAV) and are not individually redeemed from the Funds.
Brokerage commissions will reduce returns.
The Future Fund ETFs are distributed by Northern Lights
Distributors, LLC, member FINRA/SIPC. The Future
Fund LLC is the investment advisor to the Funds, and is not
affiliated with Northern Lights Distributors, LLC.
17015101-NLD-6/15/2023
Media Contact
Matt Yemma
Peaks Strategies
myemma@peaksstrategies.com
909-633-9396
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SOURCE The Future Fund