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USCF launches two ETFs using Harvard research to replicate private equity returns

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USCF has launched two new ETFs offering investment in private equity strategies.

The USCF SummerHaven SHPEN (BUYN) Index Fund and the USCF SHPEI Index Fund (BUY) seek to track newly developed indexes based on the research of Harvard Business School.
John Love, President and CEO of USCF, says: “With BUY and BUYN, investors can access the type of strategy that historically has been offered by private equity firms to a more limited group of investors in higher cost vehicles.”

Stamford-based SummerHaven Index Management has designed the two new indexes based on the Stafford’s 2017 paper, Replicating Private Equity with Value Investing, Homemade Leverage and Hold to Maturity Accounting.

The paper suggests that an investor is able to reproduce private equity returns by carefully choosing a portfolio of publicly traded equities that possess characteristics similar to the companies that private equity firms are likely to select for investment.

Ashraf Rizvi, partner at SummerHaven says: “We believe that these ETFs based on our private equity strategy indexes will provide investors with an opportunity to access returns comparable to an asset class that has traditionally only been avialable through private markets, with the added benefit of liquidity and transparent and without lockups, vintage risk, investment minimums or takeover premiums. These ETFs will allow both retail and institutional investors an opportunity to access private equity strategy returns at substantially lower fees.”

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