Noble-Impact Capital, a new entrant to the exchange traded fund space led by George Noble, is today launching its first ETF, the Noble Absolute Return ETF (NYSE Arca: NOPE). NOPE aims to deliver positive returns in all market environments by employing an actively managed, research-driven approach to capture returns from idiosyncratic investment circumstances.
Security selection will be based on each security’s underlying fundamentals, technical setup, and the overall macro environment. The process is designed to actively identify and capture investment opportunities over global market cycles and across regions, sectors, and factors. The ETF’s flexible mandate allows for net exposures between -100% short to 150% long.
Despite the proliferation of ETF products in recent years, very few ETFs offer an actively managed, absolute return strategy that is designed to do well in difficult markets. NOPE seeks to fill that void by pursuing a more dynamic investment process intended to achieve positive returns across full market cycles. This approach is designed to give individual investors access to sophisticated strategies (without the excessive fees) that are typically only available to institutional investors.
Noble brings more than 40 years of experience in asset management. He began his career at Fidelity Investments in 1981, working closely with fund manager Peter Lynch. He was head of Fidelity’s International Equity Group from 1985 to 1991 and the initial portfolio manager of Fidelity’s international equity fund earning a top ranking spanning six years. Noble then went on to manage two separate hedge funds, each of which grew to more than $1 billion in assets.
NOPE has a net expense ratio of 0.98% and was launched in partnership with Toroso Investments.
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