IRVINE, Calif.--(BUSINESS WIRE)--Dhandho Funds LLC (“Dhandho”), led by Founder and Chief Executive Officer Mohnish Pabrai, is pleased to announce the launch of the Dhandho Junoon ETF (the “Fund”) on the New York Stock Exchange Arca (NYSE Arca: JUNE).
“We are pleased to bring to market a fund that takes three distinct strategies and marries them together in one unique strategy,” said Mohnish Pabrai.
The Fund seeks investment results that correspond, before fees and expenses, to the Dhandho Junoon Index (the “Underlying Index”). The Underlying Index, created by Dhandho, utilizes a proprietary, rules-based methodology to select approximately 100 U.S. equity securities, master limited partnerships (“MLPs”) and American depositary receipts listed on the NYSE, NYSE Arca and the NASDAQ Stock Market from three categories of issuers: Share Buybacks, Select Value Manager Holdings, and Spin-Offs.
The Share Buyback bucket includes stocks that are aggressively buying back their own stock and are considered “consistent share count reducers.” The Select Value Manager Holdings bucket is composed of the largest positions in the portfolios of certain value fund managers as reported in their quarterly 13F filings. The Spin-Off bucket consists of companies that were spun off from their parents within the past several years.
IMPORTANT DISCLOSURES AND DEFINITIONS:
An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information please contact your financial professional or call 1.844.808.3557. Read the prospectus carefully before investing.
Tanvi Arora is a Registered Representative of ALPS Distributors, Inc.
ALPS Distributors, Inc. is the Distributor of the Dhandho Junoon ETF.
Shares of exchange traded funds (ETFs) are not individually redeemable and owners of the shares may acquire those shares from the ETF and tender those shares for redemption to the ETF in Creation Units only, typically in blocks of 50,000 shares, see the Fund’s prospectus for additional information regarding Creation Units. Investors may purchase or sell ETF shares at market price (not NAV) and are not individually purchased or redeemed from the Dhandho Junoon ETF. Market returns are based upon the midpoint of the bid/ask spread at 4:00 pm eastern time, and do not represent the returns an investor would receive if shares were traded at other times.
RISKS:
Investments in securities of MLPs involve risks that differ from an investment in common stock. MLPs are controlled by their general partners, which generally have conflicts of interest and limited fiduciary duties to the MLP, which may permit the general partner to favor its own interests over the MLPs.
An investment in the Fund involves risk, including loss of principal.
The Fund is considered non-diversified and can invest a greater portion of assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund.
You cannot invest directly in an index.
Dhandho Junoon ETF is a new product with limited operating history.
Control Number: JUN000108 and Expiration Date: 04/10/2017
About Dhandho Funds LLC
Dhandho Funds LLC is a subsidiary of Dhandho Holdings Corp. that focuses on developing unique investment products like the Underlying Index.