When is the last time you heard about an exciting new mutual fund launch? It's probably been a while. Big name hedge funds, the never-ending onslaught of ETFs, and burgeoning asset classes like private credit dominate the capital-raising headlines. But the mutual fund industry is still powering along at over $20 trillion in AUM and growing. While much of that AUM is tied up in legacy products, large issuers like AQR and PIMCO, and even smaller ones, are continuing to raise significant AUM in newer vintage mutual funds. Of course, when you have a big brand name like AQR or PIMCO, distribution is less of an issue. But what about those smaller managers? What does it take to raise real money as a mutual fund in the 2020s? I'm speaking with one of the most successful of the smaller managers today to hear about how they've reached over 1 billion in AUM since launching in 2020. Let's get into it. I want to do a quick disclaimer that nothing we say here is advertising or marketing for standpoint or any of their funds or products. Everything we say here is meant to be educational and informative about the fund management industry. Welcome to another edition of Other People's Money. I am joined today by Eric Crittenden, the CIO and founder of Standpoint Asset Management. Eric, thank you so much for being here with me today.

Glad to be here. Thanks for having me, Max.