The latest in funds and investment news from across the world.

The Nottingham Company
The Nottingham Company has won clearance from the Securities and Exchange Commission for a new type of exchange traded fund. 

The business is a fund services administrator and private label issuer to the mutual fund and exchange-traded fund industry. The SEC approved the short form exemptive relief application for Blue Tractor’s Shielded Alpha? ETF Structure. The move sets the stage for Nottingham and affiliate investment advisor OBP Capital and the Spinnaker ETF Series, to bring “non-transparent” ETFs to market for new and existing clients.

Blue Tractor’s Shielded Alpha? structure masks a portion of the fund manager’s portfolio and trading strategy – to avoid giving away ideas to rivals – yet still provides authorized participants and market makers with the transparency necessary to conduct efficient market trading.

“Non-transparent ETFs are expected to be the next wave of innovation and growth in ETF formations, as portfolio managers look to incorporate active strategies in managing portfolios while preserving their intellectual property,” Kip Meadows, founder and CEO of Nottingham, said. 

GSO / Blackstone Debt Funds Management
GSO / Blackstone Debt Funds Management, an affiliate of GSO Capital Partners, has created an “at-the-market equity shelf program” for one of its funds that gives portfolio managers more freedom to pursue investment ideas without having to sell existing holdings. 

The freedom has been bestowed on the Blackstone / GSO Long-Short Credit Income Fund.

The fund, subject to market conditions, may raise additional equity capital by issuing new common shares, from time to time, in varying amounts at a net price at or above the fund's net asset value per common share plus the per share amount of any commission, GSO / Blackstone Debt Funds Management said in a statement. 

Oakmont Advisory Group
Albuquerque-based financial firm Oakmont Advisory Group has rolled out a planning and investment management platform called Smpl Wealth. 

The firm said that this “low-cost” offering gives an alternative to the traditional model offered by most financial planning firms. Smpl Wealth's hybrid approach combines portfolio management technology with the guidance of a fiduciary advisor. 

"One of the unique things about Smpl Wealth is the pricing structure. Our fee is based on age, not the total value of assets one has," David Hicks, investment advisor and founder of Smpl Wealth, said.

"A typical advisor charges a fee tied to the amount of assets being managed. Unfortunately, this model often prevents those with less money from seeking help and charges more for those who have accumulated more. In either scenario, the winner is often the advisor, not the client."