Texas Capital Bank Private Wealth Advisors, a subsidiary of Texas Capital Bank, and the Texas Capital Funds Trust launched Texas Capital Government Money Market Exchange Trade Fund (MMKT ETF). This ETF will hold highly liquid, short-term U.S. government debt instruments and cash equivalents, providing an exchange-traded investment option for investors focused on managing credit risk and preserving capital.
“With the substantial changes in the interest rate environment over the last few years, the Texas Capital Government Money Market ETF offers an exciting alternative for investors,” Daniel S. Hoverman, head of corporate and investment banking at Texas Capital, said. “As the first ETF committed to following Rule 2a-7, the provision of the Investment Company Act of 1940 that governs money market funds, Texas Capital believes the combination of the tradability of an ETF and the structure of a money market fund will prove an important investment alternative for investors looking to manage liquidity, volatility and credit risks in their securities portfolio.”
“As the premier full-service financial services firm headquartered in the state of Texas, the launch of the MMKT ETF continues our commitment to serving our clients’ liquidity and investment needs,” Hoverman said. “Innovation is an integral part of the Texas Capital experience, ranging from Initio, our commercial banking platform that enables new account onboarding within a single business day, to today’s announcement about the revolutionary combination of ETF flexibility and money market sensibility. We look forward to welcoming investors in MMKT to our suite of funds and to Texas Capital.”
