Chapel Hill, North Carolina-based asset manager Morgan Creek Capital Management and New York-based fintech company EXOS Financial today launched the Morgan Creek – Exos Active SPAC Arbitrage ETF (ticker: CSH), an actively managed ETF with an investment strategy that invests in SPACs, and their underlying US Treasury collateral, to earn a potentially higher return per unit of risk than traditional cash alternatives.
The fund seeks to provide investors with short-duration investment exposure that still earns a meaningful positive return. The fund will pursue this objective by holding a diversified portfolio of “pre-combination SPACs”, which are structurally collateralized by US T-bills or equivalents and embedded equity options. It actively manages the underlying portfolio in an attempt to optimize returns relative to the risk to its underlying collateral value. Read more.
