William Brennan, president of Aqua Terra Asset Management has been selected by Kinetics Asset Management to sub-advise its new Kinetics Water Infrastructure Fund.

A spokesperson for Boenning & Scattergood, a firm with a majority stake in Aqua Terra, told the MFWire that Kinetics did not use a consultant to select a sub-advisor, and there were no other people in the running.

According to the spokesperson, Brennan was contacted directly because he is one of the few people in the world who has an investment track record in the water sector.

Brennan worked as an engineer for many years in the environmental arena, dealing specifically with water issues, and presently serves as a portfolio manager for a European water mutual fund.

Also involved in the management of the Kinetics Water Infrastructure Fund will be Aqua Terra senior analyst Gerald Sweeney, who has been with Boenning & Scattergood since 2004.

The Kinetics Water Infrastructure Fund was launched on June 29.  

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