Bob Elliott's Unlimited Funds Plans to Launch Eight New ETFs

Bob Elliott's Unlimited Funds, a recently established investment firm, intends to introduce eight new exchange-traded funds (ETFs), as stated in a filing with the U.S. Securities and Exchange Commission.

Expanding ETF Offerings through Venture Capital

Unlimited Funds aims to create ETFs that provide investors access to returns replicated from alternative strategies seen within the hedge-fund industry and other related fields. To support the expansion of its lineup, the firm secured venture capital earlier this year.

Immediate Focus on Hedge-Fund Strategies

Bob Elliott, a former executive at Bridgewater Associates, the world's largest hedge fund firm, stated in May that the startup's primary focus at the time was to develop ETFs using individual hedge-fund strategies. These strategies include equity-long-short, global-macro, event-driven, emerging-markets, and managed-futures approaches.

New ETFs in the Pipeline

A recently filed prospectus with the SEC reveals that the firm is actively preparing to launch the following ETFs:

1. Unlimited HFEQ Equity Long/Short Return Tracker ETF
2. Unlimited HFGM Global Macro Return Tracker ETF
3. Unlimited HFEV Event Driven Return Tracker ETF
4. Unlimited HFFI Fixed Income Return Tracker ETF
5. Unlimited HFEM Emerging Markets Return Tracker ETF
6. Unlimited HFMF Managed Futures Return Tracker ETF
7. Unlimited Ultra HFND Multi-Strategy Return Tracker ETF
8. Unlimited Low-Beta HFND Multi-Strategy ETF

Successful Debut and Current Performance

In October of last year, Unlimited Funds launched its inaugural fund, the Unlimited HFND Multi-Strategy Return Tracker ETF HFND. This innovative fund utilizes machine learning to monitor aggregate hedge-fund returns before fees. According to FactSet data, the ETF has generated $40 million in assets under management. However, it experienced a marginal 0.2% decline this year up until Wednesday.

Venture Capital Funding

Bob Elliott, serving as the chief executive officer and chief investment officer at Unlimited, disclosed that FirstMark and Citi Ventures led the firm's funding round, raising a total of $8 million.

Strengthening the Team

To support its growth after securing recent venture-capital funding, Unlimited has appointed Michelle Sullivan as the head of operations and chief compliance officer. Sullivan brings extensive experience from previous positions at Granite Peak Asset Management, Context Capital Partners, and Bridgewater.