The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:David Marcus Returns to the Mutual Fund World Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, February 19, 2010

David Marcus Returns to the Mutual Fund World

Reported by InvestmentWires Staff, 

Taking a page from the playbook of his former boss Michael Price, ex-Franklin Mutual portfolio manager David Marcus debuted two funds from his new firm, Evermore Global Advisors. The Evermore Global Value Fund and Evermore European Value Fund both carry expense ratios of 99 bps for A, I and C shares.

David Marcus
Evermore Global Advisors
Co-Founder, CIO and Lead Portfolio Manager
Launched last December 31, the funds are available through Pershing's platform. "We expect to be on Fidelity's Institutional Funds Network, Schwab OneSource and TD Ameritrade's Institutional platforms by the end of this month," said Lily Simo, head of marketing and shareholder services.

The funds use U.S. Bank as custodian, U.S. Bancorp Fund Services as administrator, Bingham McCutchen LLP as counsel and Ernst & Young as the independent registered public accountant.

Price is one of three people on the Evermore's advisory board. The two others are Michael Lipper, founder and president of Lipper Advisory Services and former SEC chair Harvey Pitt.

Going from mutual funds to hedge funds and now back again to mutual funds, Marcus co-founded Summit, New Jersey-based Evermore with fellow Franklin alum Eric Legoff last June. Half of Evermore's eight-person team are Franklin alums.

In early 2009, before the market rally, Marcus got together with Legoff. "When we looked back at the business Michael Price built in the '70s, '80s and '90s, it's a fantastic business model," Marcus said. They then decided to take a page out of Price's playbook.

"Our approach is active value," Marcus added. "We tend to engage with the businesses we invest in."

Marcus joined Mutual Series Fund as an intern in 1987. He went on to become a research analyst, eventually rising to become a portfolio manger of the Mutual European Fund and co-portfolio manager of the Mutual Shares Fund and Mutual Discovery Fund. By the time of his departure in 2000, he was managing more than half of the firm's assets.

That year, Marcus started Marcstone Capital Management, a long/short European-focused equity manager. Two years later, he closed it after Marcstone's lead investor passed away. In 2003, Marcus co-founded Stonebrook Partners, LLC, the family office of the Stenbeck family. Then in 2004, he founded MarCap Investors LP, serving as managing partner and investment manager of a European small cap special situations fund and all-cap global fund.

Marcus' latest venture got its name from legendary Wall Street trader Jesse Livermore's Long Island mansion, Evermore.

"I read his bio many years ago and I thought of the name," Marcus said. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. 2024 ICI Leadership Summit, May 21-23
  2. MFDF webinar - Mutual Fund Director Compensation: the MPI Annual Survey (2024), May 21
  3. Schwab Institutional Investor Day, May 22
  4. IMEA webinar - Opportunities in the Evolving Wealth Management Market, May 22
  5. Raymond James 2024 Analyst & Investor Day, May 23
  6. WE SoCal - How to Lead With Impact: Fireside Chat With Lorraine Le, May 23
  7. MFDF Conference of Fund Leaders Forum, June 5
  8. MFDF in-person outreach: Continuing Regulatory Impacts on Fund Boards, June 11
  9. MFDF webinar - Digital Assets in the Fund Space (Part 1 of 2), June 12
  10. 2024 MMI Leadership Pathway Seminar, Jun 12-14
  11. 2024 Nicsa Fearless Leadership Symposium, June 12
  12. Expect Miracles East Coast Classic 2024, June 13
  13. MFDF webinar - Lessons Learned from the Regional Bank Volatility and the Impact on Registered Funds, June 18
  14. MFDF Director Discussion Series - Open Forum (Philadelphia), June 20
  15. New York YPEM Cornhole Classic, June 25
  16. Morningstar Investment Conference Conference 2024, Jun 26-27
  17. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 16
  18. MFDF Director Discussion Series - Open Forum via Zoom, July 17
  19. MFDF Director Discussion Series - Open Forum (New York), July 23
  20. 2024 MMI Annual Conference, Oct 15-17
  21. 5th Annual ETFGI Global ETFs Insight Summit, October 29
  22. MFDF webinar - Digital Assets in the Fund Space (part 2 of 2), November 7
  23. MFDF 2025 Directors' Institute, January 27 - 29, 2025
  24. MFDF 2025 Fund Governance & Regulatory Insights Conference, March 6 - 7, 2025

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use