Press release

Bob Tull Announces that Kathleen Neumann Joins Pegassets, LLC as President, plus Pegassets’ Market Launch of Breakthrough Ensemble Active Management (EAM)‐Powered Smart Beta Solutions

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Robert Tull is pleased to make two announcements relating to Pegassets, LLC, the firm he founded in 2018 dedicated to delivering Ensemble Active Management (EAM) based solutions.

Bob is delighted to announce that Kathleen Neumann has joined Pegassets as President. Ms. Neumann was most recently President and CCO of SerenityShares, an ESG‐dedicated ETF start‐up, preceded by over a decade at TAMRO Capital Partners, a small‐cap equity institutional money manager where she was President. “I have known Kathy for many years”, said Bob Tull. “She is a proven executive and a skilled investment professional. I view her decision to join our efforts as a validating endorsement to the franchise we are building.”

Kathy will be spending the majority of her efforts supporting the formal market launch of Pegassets’ EAM‐ Powered Smart Beta solutions.

These breakthrough products are the culmination of months of research conducted in partnership with Turing Technology. They deploy the next generation performance improvements of EAM Portfolios, enabled by AI/Machine Learning technologies, to create an ‘Ensemble Active’ version of virtually any existing smart beta ETF.

The result is a dynamic portfolio of approximately 50 securities, where the securities are 1) a subset of the actual securities in the targeted ETF, and 2) represent those securities best‐positioned to outperform based upon a multi‐expert, EAM‐enhanced selection process. The EAM‐Powered Smart Beta portfolios can therefore be delivered as fully disclosed active ETFs or as passive ETFs.

Included among the five EAM‐Powered Smart Beta portfolios that Pegassets has put into production are portfolios designed to outperform GSLC (Goldman Sach’s ActiveBeta ETF), FEX (First Trust’s AlphaDEX ETF), RWL (Invesco’s revenue‐weighted S&P500 ETF), and ESG (FlexShares Environmental, Social, and Governance ETF).

According to Bob, “This new capability is poised to energize and even transform the smart beta ETF market. The backtests for every one of the products shows significant improvements in relative and risk‐ adjusted returns, and (while still a short window), the live test numbers are running even better.”

Kathy Neumann adds, “When Bob first brought this concept to me, I was simply amazed. Powerful, elegant, and a much needed improvement over status quo.”

Pegassets will be licensing the capability to build custom, proprietary EAM Portfolios to investment firms that are either current issuers of ETFs, or are thinking of entering the market. Pegassets already has one ETF issuer under contract within a live test program.

Kathy puts it simply, “Existing ETF firms can now offer a companion, Ensemble Active version as part of a product line extension.” She continued, “Alternatively, if a firm is looking to enter the ETF market and needs a breakout lead offering, an EAM‐Powered Smart Beta ETF explicitly designed to outperform multi‐ billion dollar pools of existing assets is ideal.”

To learn more about Pegassets and EAM‐Powered Smart Beta options, email Kathy at