The folks at a publicly traded broker-dealers's $114.7-billion-AUM, multi-boutique asset manager are rolling out their first three ETFs, and they're prepping a fourth, too. All are active funds.

Yesterday (October 2), Matt Johnson, Susan Walzer, and Johan Grahn unveiled the launch of the RJ Eagle GCM Dividend Select Income ETF (RJDI on the NYSE Arca), the RJ Eagle Municipal Income ETF (RJMI), and the RJ Eagle Vertical Income ETF (RJVI), and the team at Raymond James Financial, Inc.'s Carrillon Tower Advisers, Inc. (dba Raymond James Investment Management [profile] also recently filed to launch the RJ Chartwell Premium Income ETF (RJPI). Grahn serves as head of ETFs at RayJay IM, Walzer as president of the firm's mutual fund family (the Carillon Family of Funds), and Johnson as head of product and marketing.

St. Petersburg, Florida-based RayJayIM will serve as investment advisor and administrator to all four ETFs. Eagle Asset Management, Inc. (a RayJay IM boutique also in St. Petersburg) will subadvise the three RJ Eagle ETFs, while Chartwell Investment Partners (a RayJay IM boutique in Berwyn, Pennsylvania) and Tidal Investments (part of an independent, Milwaukee-based ETF-in-a-box shop) will subadvise the upcoming RJ Chartwell ETF.

Yesterday was the inception date for RJDI, RJMI, and RJVI, while RJPI has not yet listed. RJPI will come with an expense ratio of 60 basis points, RJVI and RJDI cost 55bps, and RJMI costs 45bps. As of yesterday, RJVI, RJMI, and RJDI have about $2.5 million each in AUM.

RJDI, which is a non-diversified fund, is powered by portfolio managers from Eagle's Gibbs Capital Management division. The ETF's PM team includes:

Michael Gibbs, managing director and lead portfolio manager of his eponymous team;

Joey Madere, portfolio co-manager and senior analyst; and

Richard Sewell, portfolio co-manager and senior analyst.

RJMI is powered by an Eagle PM team that includes:

James Camp, managing director of fixed income and strategic income strategies; and

Burt Mulford, senior vice president.

RJVI is powered by an Eagle PM team that includes:

Brad Erwin, managing director;

John Lagowski, senior research analyst; and

Camp.

RJPI, also a non-diversified fund, will be powered by a Chartwell PM team that includes:

Jeffrey Bilsky, portfolio co-manager; and

Douglas Kugler, senior PM on the equity investment team.

Johnson describes RJVI, RJMI, and RJDI as RayJay IM's "initial, focused set" of ETFs, and he puts the triple launch in the context of the fund firm's "central advisor-first approach."

"These listings represent the foundation for a growing, tailored ETF platform that will complement Raymond James Investment Management's existing family of mutual funds, separately managed accounts, CITs, UCITS, and institutional mandates," Johnson states.

Walzer highlights Eagle's "reputation for actively managing portfolios that focus on income generation through fixed income and dividend-paying equities, while successfully navigating shifts in market environments."

"With today's launch, we're expanding access to the trusted strategies already run by Eagle's portfolio managers in a more transparent and tax-efficient structure," Walzer states.

Grahn notes that RJDI, RJMI, and RJVI are each built "to serve as a core holding in a client portfolio, or to fit as a dedication allocation in a diversified model portfolio."

"We look forward to launching more ETFs that represent some of our best ideas and most coveted investment strategies across our boutique investment firms in the coming months and years," Grahn states.

RJVI, RJPI, RJMI, and RJDI are actively managed series of Carillon Exchange-Traded Funds. The four ETFs' other service providers include:

K&L Gates LLP as counsel;

PricewaterhouseCoopers LLP as independent accounting firm;

ACA Foreside's Quasar Distributors, LLC as distributor;

U.S. Bancorp Global Fund Services, LLC (dba U.S. Bank Global Fund Services) as dividend disbursing agent and transfer agent; and

U.S. Bank National Association as custodian and securities lending agent.

 

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