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Lebenthal Ultra Short Tax-Free Income Fund in registration
The Fund’s use of the Lebenthal name is pursuant to a Trademark License Agreement between Lebenthal Partners, LLC and the Advisor. Neither the Trust, the Trustees, or the Advisor are affiliated with Lebenthal Partners, LLC.
That's certainly reassuring. Let's send our money to some outfit who just rents even it's name. Good grief!
Maybe it invests in synthetic securities as well.
Found this explanation at Investopedia :
“Imagine ... an institutional investor that wants a convertible bond for a company that has never issued one. To fulfill this market demand, investment bankers ... create a synthetic convertible (by) purchasing the parts - in this case bonds and a long-term call option - to fit the specific characteristics that the institutional investor wants.”
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Found this explanation at Investopedia :
“Imagine ... an institutional investor that wants a convertible bond for a company that has never issued one. To fulfill this market demand, investment bankers ... create a synthetic convertible (by) purchasing the parts - in this case bonds and a long-term call option - to fit the specific characteristics that the institutional investor wants.”
https://www.investopedia.com/terms/s/synthetic.asp