In its one-year history as a firm, there has been little evidence to suggest Arena Capital is a superior steward of capital compared with other asset managers. Arena Capital currently runs one vehicle, with a total of$ 6.2 million under management and a bench of two portfolio managers. Even though Arena Capital is a relatively new firm, it has hired a small team of experienced managers, averaging about 17 years of total industry experience.
The firm's average net expense ratio across its open-end and exchange-traded product shelf place the firm within the middle quintile of asset managers. Additionally, Arena Capital has not disclosed portfolio holdings and data more often than is required by regulation, which would improve their transparency.
To upgrade the firm's rating, Arena Capital will be expected to build a consistent track record of positive investor experience.