Eagle Capital Management, an asset manager whose clients include pension funds, endowments and foundations, on March 25 launched its first ETF, the Eagle Capital Select Equity ETF.
The launch of the new ETF, known by the ticker symbol EAGL, “is a direct result of the firm’s focus on clients and responding to their needs, with a number of Eagle clients deciding to convert separately managed accounts to shares of EAGL,” the firm said in a news release.
EAGL was launched with $1.8 billion in assets, a spokesman for the firm said.
“We welcome the opportunity to participate in the growth of active ETFs and their increasing use by sophisticated investors, their advisors, and asset allocators,” Michael Falcon, Eagle’s chief executive officer, said in the release.
Founded in 1988, Eagle manages a public equity strategy rooted in fundamental research, the release said. The strategy has a strong value orientation and a long-term investment horizon, which results in a concentrated, high-conviction portfolio, the release said.
The Eagle investment strategy is managed by the firm’s CIO team, led by Alec Henry, managing chief investment officer. Henry is also the new ETF’s portfolio manager.
“Eagle’s focus on the long-term differentiates us from most other managers in an increasingly short-term oriented investment landscape, and we are fortunate to have enduring clients who share our vision and have conviction in our capabilities,” he said in release.
The new ETF was launched in partnership with the Goldman Sachs ETF Accelerator, “a digital platform that enables Goldman Sachs’ clients to launch, list, and manage ETFs quickly and efficiently,” the release said.
In addition to pension funds, endowments and foundations, Eagle’s clients also include wealth advisers, family offices and sovereign wealth funds, the release said. As of Dec. 31, it managed $26.5 billion in assets.
