Milwaukee, Wisc.-based CliftonLarsonAllen Wealth Advisors has teamed up with Academy Asset Management, a Philadelphia, Pa.-based investment advisor to launch Innovator Management LLC, purveyor of the new Innovator Matrix income Fund.

The fund began trading on January 31 and currently manages some $50 million in assets. It bets on pass-through securities, which are assets managed by entities that “pass-through” a majority of their operating profits directly to their unit holders while avoiding taxes at the corporate level, including master limited partnerships, royalty trusts and real estate investment trusts.

“Given the historically low interest rates in the current market environment, we believe our clients are having some difficulty finding adequate income in traditional investments,” stated Tony Hallada, chief executive officer at CLA.

Hung Tran writes for Money Management Executive.