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Converting Mutual Funds to ETFs: A Fertile Field? | Carlton Fields


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A trend seems to be starting for open-end management investment companies to reorganize into exchange-traded funds. The March 12, 2021, merger of the Adaptive Growth Opportunities Fund, a series of the Starboard Investment Trust, into the Adaptive Growth Opportunities ETF, a series of the trust that was created for that purpose, illustrates what this may entail.
The fund’s adviser, Cavalier Investments (doing business as Adaptive Investments), continues as the ETF’s adviser.
The shareholders received a Form N-14 information statement, prospectus, statement of additional information, president’s letter, and Q&A describing the conversion and the ETF. Shareholders had an opportunity to redeem or exchange their shares in the fund if they did not want to continue as shareholders of the ETF. ....

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Adaptive Growth Opportunities Fund is converting to an ETF


Adaptive Growth Opportunities Fund is converting to an ETF
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ALPHARETTA, Ga., May 10, 2021 /PRNewswire/ Adaptive Investments has received SEC approval to move forward with one of the first conversions of an open ended mutual fund, to an exchange traded fund (ETF.). The Adaptive Growth Opportunities Fund, CATEX, will exchange to the ETF structure after close of business on May 7th. The Fund will trade under the new ticker, AGOX, beginning May 10th.
The Fund possesses Morningstar s 5-Star ranking over 3 years, 5 years and overall.
Morningstar Tactical Category
Top 6% over 3 years out of 218 funds ....

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