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First Manhattan Co. announces agreement with Precidian Investments

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First Manhattan Co, a US-based independently owned and operated investment advisory and wealth planning firm with USD20 billion under management, has entered into an agreement to license ActiveShares, the proprietary actively managed ETF structure from Precidian Investments, LLC.

The firm writes that the Precidian model enables a company to deliver actively managed investment strategies in an ETF vehicle without disclosing holdings on a daily basis.

“We are pleased to leverage Precidian’s ActiveShares technology, which we believe will provide investors with a number of unique benefits to help them achieve their investment goals and objectives,” says Zachary Wydra, CEO of First Manhattan.

“Our platform provides licensees with the ability to protect their intellectual capital while simultaneously affording their clients the numerous efficiencies that ETFs enjoy,” says Precidian’s CEO Daniel McCabe. “We are proud to welcome First Manhattan as one of our partners leveraging the ActiveShares ETF structure.”

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