AllianceBernstein announced the launch of the AB U.S. Large Cap Strategic Equities ETF (NYSE Arca: LRGC) on the NYSE. The actively managed ETF uses a research-driven stock selection process to identify large-cap U.S. stocks with strong company fundamentals.
LRGC’s investment objective is long-term growth of capital. AB uses fundamental and quantitative research to determine which securities to invest in and to manage risk. Global trading firm Jane Street will be the lead market maker for the ETF.
AB’s global head of ETFs and portfolio solutions Noel Archard said LRGC “demonstrates our continued commitment to innovation and growth … to meet evolving client needs.”
“We’re thrilled to provide a new investment option for our clients in one of our core U.S. equity strategies,” said AB’s head of equities Christopher Hogbin. “With this new ETF, a broad range of clients will have access to a compelling active equity strategy delivered in a liquid, transparent and tax-efficient vehicle.”
AB entered the ETF space in September 2022 with the launch of two actively managed fixed income funds: the AB Ultra Short Income ETF (YEAR) and the AB Tax-Aware Short Duration Municipal ETF (TAFI). The company has been rapidly expanding its lineup of funds since. LRGC marks AB’s seventh ETF launch.
“Advisors have sought out actively managed ETFs in 2023 turning to professionals for security selection. It’s great to see AB bring its expertise to the ETF market,” said VettaFi’s head of research Todd Rosenbluth.
LRGC carries an expense ratio of 0.48%.
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