The Washington Independent
The Washington Independent
Speculative fear of declining attendance is unfounded, claims a money manager

Speculative fear of declining attendance is unfounded, claims a money manager

May 03, 2021 | Frazer Pugh
finance

In April, there were 105 new SPACs debuting this year as opposed to the customary increase of 109, according to SPAC Research.

The markets reacted to a lot when the SEC recently reclassified SPAC warrants as liabilities, requiring most SPACs to re-assess their accounting.

It may be, though, Morgan Capital's Mark Yusko believes in the interview with CNBC this week.

Hedge funds have long-term trends, Yusko, his firm's founder and CEO, said on “CNBC ETF Edge” on Monday. High-growth, creative businesses would be more attracted to the SPAC merger than they have been in the past.

As a result of the frenetic first quarter for new issuance and the SEC crackdown, he remarked, “It's normal and to be a little conservative for you to pause.

regardless, [such] they can also be a good “the easiest,” way for retail investors to get into recently IPO'd firms, Stuart Frankel, director of institutional sales, said in the same interview in ETF Edge.

For a SPAC, you get in for $10, either opt for the bargain or abstain and you're on equal ground; for every other marketplace, the retail consumer would be excluded, said Grasso, who was a CNBC commentator when she said that, too, said he said, "

"Besides that, they are a fine option for institutional investors," he agreed

There are currently three SPAC-based exchange-traded funds available to investors: Yusko's Morgan Growth and Value Exchange-Traded Fund (SPX), which offers diversified assets, and the broad-based Defiance Next Generation Index and Manager New Issue/Grains and Index and Service (SPAK), all of which are actively operated by Tuttle (SPCX).

Investing in actively managed ETFs rather than passively held SPACs is a good approach because it's unlikely to negatively impact an actively managed portfolio, which has 180 or so of such stocks.

"The facility needs top-notch management," Lydon said. This is a segment for investors who may not have the aptitude or the wherewithal to do detailed due diligence, but who may benefit from strong performance.

Frazer Pugh | I work in the investment management sector as a professional. Previously, I advised top financial services companies on balance sheet management, portfolio planning, and valuations as a consultant. I am currently pursuing a part-time MBA at Melbourne University, where I am a lecturer in accounting and hedge fund strategies, as well as a mentor/coach in a part-time equity analysis initiative. I have a bachelor's degree in economics, a master's degree in finance, and am a Chartered Accountant. I enjoy instructing and assisting others in achieving their objectives.

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