Reckoner Yield Enhanced AAA CLO Reinvesting ETF (RAAR) Stock Price, Quote, News & History | Benzinga

To pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings made for investment purposes) in investments that provide exposure to debt tranches of collateralized loan obligations (CLOs) of any maturity or duration that are rated, at the time of purchase, AAA (or equivalent by a nationally recognized statistical rating organization (NRSRO)), which is the most senior level of debt tranche and considered to be investment-grade. The Fund complies with this policy by investing substantially all of its assets in the shares of affiliated and unaffiliated underlying funds that are registered under the Investment Company Act of 1940 (the 1940 Act), more specifically, underlying funds whose investment strategy consists of investing in, or providing exposure to, AAA-rated debt tranches of CLOs (the Underlying Funds). The Funds selection of Underlying Funds currently consists of Reckoner Yield Enhanced AAA CLO ETF (RAAA) and Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY). This selection may change over time, although Reckoner Capital Management LLC, investment adviser to the Fund, RAAA, and RAAY (the Adviser), expects to select such Underlying Fund investments without considering or canvassing the universe of available unaffiliated investment companies. Investors that do not want exposure to RAAA or RAAY should not purchase Fund shares.