Sterling Capital National Municipal Bond ETF
SCNM
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- Sterling Capital National Municipal Bond ETF (SCNM) is an actively managed exchange-traded fund that seeks to generate current income exempt from regular federal income taxes, consistent with the preservation of capital, by investing primarily in a diversified portfolio of municipal instruments whose interest is exempt from regular federal income tax; the fund employs a top-down investment approach focusing on interest rates and credit quality, adjusting portfolio duration and selecting securities across various economic sectors such as utilities, transportation, education, housing, and healthcare. Launched on December 11, 2025, and listed on the CBOE BZX Exchange with CUSIP 85917K470, SCNM targets individual and institutional investors seeking tax-efficient fixed income exposure, with an expense ratio of 0.35% and benchmarked against the Bloomberg U.S. Municipal Index. Sterling Capital Management LLC serves as the investment adviser, with distribution handled by Sterling Capital Distributors LLC, a member of FINRA/SIPC. Sterling Capital Management LLC, the issuer and adviser for SCNM, was founded in 1970 and is headquartered in Charlotte, North Carolina; an indirect wholly-owned subsidiary of Guardian Capital Group Limited following its acquisition completed in 2024, the firm manages approximately $77 billion in assets under management and administration as of September 30, 2025, offering a range of actively managed investment solutions including separate accounts, model portfolios, mutual funds, and ETFs across fixed income, equity, and multi-asset strategies. The firm's active ETF platform, launched in 2020, includes SCNM alongside products such as the Sterling Capital Enhanced Core Bond ETF (SCEC), which blends investment-grade and high-yield bonds for income and total return; the Sterling Capital Focus Equity ETF (LCG), approved for liquidation with trading ceasing November 17, 2025; and the Hedged Equity Premium Income ETF (SCEP). Sterling Capital operates primarily in the United States, serving intermediary platforms, institutional clients, and high-net-worth individuals through five distinct investment teams. Recent developments include the launch of SCNM on December 11, 2025, marking Sterling Capital's expansion into national tax-exempt municipal bond strategies following the March 17, 2025, debut of the Enhanced Core Bond ETF (SCEC), the firm's first fixed income ETF post its 2024 acquisition by Guardian Capital Group Limited, which enhances U.S. market growth and product capabilities. The acquisition by Guardian, announced February 2, 2024, and finalized later that year, positions Sterling Capital for broader client expansion and operational enhancements without disrupting its independent management structure. No additional major partnerships, funding rounds, or reorganizations have been reported in the past 1-2 years beyond these strategic moves and the planned liquidation of the Focus Equity ETF.