Nottingham receives SEC effectiveness for its first mutual fund to ETF conversion Adaptive Growth Opportunities ETF (AGOX)
Rocky Mount, NC
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April 29, 2021 11:15 AM Eastern Daylight Time
The Nottingham Company, a leading fund administrator and private label issuer to the mutual fund and ETF industry, is pleased to announce completion of the registration process for its first conversion of an open-end mutual fund to an exchange traded fund (ETF). Nottingham affiliated series trust Starboard Investment Trust completed the registration portion of the process recently, with an agreed upon conversion date of May 7 for The Adaptive Growth Opportunities Fund. The Adaptive Growth Opportunities Fund will convert all its assets to the Adaptive Growth Opportunities ETF (AGOX) on May 7th, with public trading of AGOX beginning on Monday May 10.
“We are excited to be among the first mutual funds to convert to an ETF”, stated Adaptive CEO Greg Rutherford. “The wealth managers we work with to position our family of funds has been asking for the ETF structure for the past few years, and our plan it is to meet their request by converting our other Adaptive portfolios to ETFs in the coming months”.
Kip Meadows, Founder and CEO of Nottingham, indicates Nottingham has had mutual fund conversions to ETFs on its radar for a few years. “We believe there will be a significant number of open-end mutual funds that want to convert to ETFs in the next few years, and we are very pleased to be the first fund administrator and private label issuer with success in this process”.
Katherine Honey, President of Nottingham and affiliate ETF RIA OBP Capital added, “We did a lot of work with our outside counsel Greenberg Traurig and independent auditors BBD to make sure we understood the tax implications of a conversion. We feel like we have an excellent template to work with moving forward for more conversions.”
About Adaptive Investments
Adaptive Investments follows the theories and methodology of Modern Portfolio Theory (MPT), introduced by Harry Markowitz in the 1950s. The goal of MPT is a relatively simple, static allocation of assets could weather any market environment.
To implement the MPT approach to investing, Adaptive Investments is a manager of managers investment platform that strives to deliver adaptive correlation strategies to financial advisors. Adaptive Investment’s solutions attempt to make portfolios more dynamic by systematically turning risk on or off based on market conditions.
Adaptive markets its funds and now ETFs primarily to the wealth management and investment advisory community, helping advisors bring MPT to their client base.
RCADP0421002
Investors should consider the investment objective, management fees, risks, charges and expenses of the Fund carefully before investing or sending money. The Prospectus and Summary Prospectus contains this and other information about the Fund. For a current Prospectus and/ or Summary Prospectus, call 888-721-4588, visit us at www.adaptiveinv.com or email us at info@adaptiveinv.com. Please read the Prospectus and/or Summary Prospectus carefully before you invest. Current and future holdings are subject to change and risk.
An investment in the Adaptive Growth Opportunities Fund is subject to investment risks, including the possible loss of some or the entire principal amount invested. There can be no assurance that the Adaptive Growth Opportunities Fund will be successful in meeting its investment objective. Investment in the Adaptive Growth Opportunities Fund is also subject to the following risks: Common Stock Risk, Control of Portfolio Funds Risk, Equity Securities Risk, Fixed Income Risk, ETF Investing Risk, Fund Investing Risk, Cash and Cash Equivalents Risk, Foreign Securities and Emerging Markets Risk, Investment Advisor Risk, Management Risk, Large-Cap Securities Risk, Market Risk, Portfolio Turnover Risk, Quantitative Model Risk, Small-Cap and Mid-Cap Securities Risk, Cybersecurity Risk, and COVID-19 Risk. The Adaptive Growth Opportunities Fund may invest in foreign securities and emerging markets, and these investments have risks that differ significantly from those associated with domestic securities. More information on these risks can be found in the Adaptive Growth Opportunities Fund’s prospectus.
An investment in the Adaptive Growth Opportunities ETF is subject to investment risks, including the possible loss of some or the entire principal amount invested. There can be no assurance that the Adaptive Growth Opportunities ETF will be successful in meeting its investment objective. Investment in the Adaptive Growth Opportunities ETF is also subject to the following risks: Common Stock Risk, Control of Portfolio Funds Risk, Equity Securities Risk, Fixed Income Risk, ETF Investing Risk, Fund Investing Risk, Cash and Cash Equivalents Risk, Foreign Securities and Emerging Markets Risk, Investment Advisor Risk, Management Risk, Large-Cap Securities Risk, Market Risk, Portfolio Turnover Risk, Quantitative Model Risk, Small-Cap and Mid-Cap Securities Risk, Cybersecurity Risk, COVID-19 Risk, Authorized Participant Risk, ETF Structure Risks, and Early Close/Trading Halt Risk. The Adaptive Growth Opportunities Fund may invest in foreign securities and emerging markets, and these investments have risks that differ significantly from those associated with domestic securities. More information on these risks can be found in the Adaptive Growth Opportunities Fund’s prospectus.
The Adaptive Funds are distributed by Capital Investment Group, Inc., Member FINRA/SIPC, 100 E. Six Forks Road, Suite 200, Raleigh, NC 27609, (800) 773-3863. There is no affiliation between Adaptive Investments, the Investment Advisor to the Fund, and Capital Investment Group, Inc.
Since 1988 Nottingham has offered consulting for investment fund organization, and ongoing operations support for mutual funds and ETFs including fund accounting, compliance administration, and transfer agency for those funds. Nottingham offers a full range of turnkey services, managing relationships between clients and all outside vendors and services, including lead market markets and Authorized Participants, prime brokers and custodians, outside legal counsel, independent auditors, custodians, printers, insurance companies and the fund board. Nottingham remains one of the largest privately held fund administration firms in the US operating quite efficiently from eastern North Carolina.
Contact Details
Lindy Fields
+1 252-984-3811
