Bob Elliott’s Unlimited prepares to launch hedge-fund strategy ETFs

Elliott, a former executive at the world’s largest hedge fund firm Bridgewater Associates, told MarketWatch in May that the startup’s “most immediate focus” was creating ETFs with individual hedge-fund strategies such as equity-long-short, global-macro, event-driven, emerging-markets and managed-futures strategies.

A prospectus filed with the SEC this week shows the firm is preparing to launch the Unlimited HFEQ Equity Long/Short Return Tracker ETF, Unlimited HFGM Global Macro Return Tracker ETF, Unlimited HFEV Event Driven Return Tracker ETF, Unlimited HFFI Fixed Income Return Tracker ETF, Unlimited HFEM Emerging Markets Return Tracker ETF, Unlimited HFMF Managed Futures Return Tracker ETF, Unlimited Ultra HFND Multi-Strategy Return Tracker ETF and Unlimited Low-Beta HFND Multi-Strategy ETF.

The firm launched in October its first fund, the Unlimited HFND Multi-Strategy Return Tracker ETF
HFND,
which uses machine learning to track aggregate hedge-fund returns gross of fees. The ETF, with around $40 million of assets under management, has slipped 0.2% this year through Wednesday, FactSet data show.

Elliott, who is chief executive officer and chief investment officer at Unlimited, said in May that FirstMark and Citi Ventures led $8 million of funding for the firm.

Meanwhile, Unlimited has named Michelle Sullivan head of operations and chief compliance officer as it seeks to expand with its recent venture-capital funding, according to a spokesperson for the firm. Sullivan has previously held positions at Granite Peak Asset Management, Context Capital Partners and Bridgewater, according to Unlimited.

See: Ex-Bridgewater exec Bob Elliott’s Unlimited raises venture capital to help launch ETFs replicating hedge-fund, private-equity strategies