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Dhandho Junoon ETF Launches on NYSE Arca: JUNE

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Dhandho Funds has launched the Dhandho Junoon ETF (JUNE) on the New York Stock Exchange Arca.

“We are pleased to bring to market a fund that takes three distinct strategies and marries them together in one unique strategy,” says Dhandho Founder and Chief Executive Officer Mohnish Pabrai.

The Fund seeks investment results that correspond, before fees and expenses, to the Dhandho Junoon Index (the “Underlying Index”). The Underlying Index, created by Dhandho, utilises a proprietary, rules-based methodology to select approximately 100 US equity securities, master limited partnerships (MLPs) and American depositary receipts listed on the NYSE, NYSE Arca and the NASDAQ Stock Market from three categories of issuers: Share Buybacks, Select Value Manager Holdings, and Spin-Offs.

The Share Buyback bucket includes stocks that are aggressively buying back their own stock and are considered “consistent share count reducers.” The Select Value Manager Holdings bucket is composed of the largest positions in the portfolios of certain value fund managers as reported in their quarterly 13F filings. The Spin-Off bucket consists of companies that were spun off from their parents within the past several years.

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