[0:00] Host: Welcome, this is Robbie Yott. I’m here with Alex Peters, the creator of the brand new ETF, the Alki Consolidated Income Fund, IINC. Alex, tell us about the fund. Why did you create it, and what are you looking to achieve with it?
[0:16] Alex Peters: The reason we created the fund is, looking out in the marketplace, I really felt there was a place for a product that not only offered consistent monthly income but also sought to do it in a very transparent way, without owning any structured notes or swaps or anything that doesn’t trade on an exchange. And I also didn’t see any fund that was really explicitly trying to reduce the volatility as much as possible. That’s my secondary goal, in addition to generating income: to reduce the volatility.
[0:48] Host: Nice. For everybody who doesn’t do this for a living, is there an easier explanation for the average listener who is just having their account managed, to understand what you’re trying to achieve with the ETF?
[1:02] Alex Peters: Sure. And yeah, I threw out some lingo there, but let’s just say simplicity. When I say transparency, I mean simplicity. The typical person, if they look at the portfolio, will understand it. It’ll be easier for them to understand than many other portfolios that are out there in the marketplace.
[1:19] Host: That’s right. Speaking of, what makes this different from anything else on the market?
[1:23] Alex Peters: Great question. Everything that we own is traded on an exchange, meaning you could look up any of the things we own, you could see where they trade, you could see the prices. There are no structured notes that are created by investment banks. There are no swaps. These are things that act similar to some of the securities we own, but they’re created by a third party, a bank. They’re priced by them, they do not trade, and you cannot see what the prices are. It’s opaque, there’s a lack of visibility, and there’s also additional cost because you have a third party creating this, the investment bank. We don’t. Everything we do is done on an exchange. It’s a lot more work, but we ultimately believe that work will be worth it.
[2:11] Host: Nice. For anybody wanting to find out more about the fund and how to invest in it, where are you going to direct them?
[2:17] Alex Peters: Great question. We have a website, which is iinc-etf, which has all of the documents: the offering documents, press releases, anything you’d want to know about the fund. And then they would just access their own advisor and say, “I’m interested in this. What can you tell me?” Is it easy, is it accessible? “I want this in my portfolio.” Another reason we felt it was important to create an ETF is that you can use an advisor or not use an advisor. This fund trades on the New York Stock Exchange. You simply type in “IINC” to whatever brokerage firm or brokerage app you use, and it will pull up the fund and you can buy it on your own.
[2:55] Host: Nice. Easy.
[2:57] Alex Peters: Just like that.
[2:58] Host: Just like that. Nice. Being located in Washington state, the name Alki: is there anything you want to tell us about the connection?
[3:04] Alex Peters: Alki is a native term. It means “someday.” It was named by one of the founding groups, the Denny Party, that came here. We thought it had a nice local tie-in. There’s a great surf town here called Alki, with a beautiful beach we like to go to. We thought it was a nice tip of the hat to the Northwest, and it helps acknowledge where this fund was created and where it’s being managed from.
[3:30] Host: Fantastic. Really appreciate your time. Thank you for all the valuable information, and we’re looking for some great feedback on the brand new IINC, Alki Consolidated Income Fund.
[3:40] Alex Peters: Great to be with you. Thanks.