Kinetics Asset Management, the investment advisor to the ever so popular
Internet Fund, is launching a new fund,
The Cancer Research Investment Fund in just a few weeks,
Paul Abel, the co-portfolio manager told the MFWire.com.
"The fund was inspired because there are lots of companies involved in cancer research and they seem to be close to reaching a cure," Abel said.
The funds will be distributed though
Firstar, which also acts as back-office for The Internet Fund. Abel said that they are not sure of direct retail access but "hopefully it will be available."The marketing details are also still being figured out.
At the time of filing the fund was named the Medical Fund & The Cure for Cancer Inc. and three weeks ago was changed to its current name. Able said, "The initial name was possibly over-optimistic and could have been seen as misleading." When asked if the name was changed because of SEC pressure Able said, "not necessarily." A spokesperson for the SEC said it does not comment on the details of fund filings.
The fund is a no-load, non-diversified fund with an expense ratio of 1.85%. The fund will be co-managed by
Peter Doyle, Kinetics co-founder and Abel.
Abel joined Kinetics in July. He previously worked at
Brookhaven National Laboratory for 10 years. Abel said he has been helping out with the Internet fund for the past two years doing programming and coming up with ideas. Both Doyle and Abel will be handling the day-to-day investment decisions.
Although this is the first time Abel will be actively managing a fund he said his science background is what he is bringing to bear.
The fund will be investing in companies that develop drugs and medications for the treatment and prevention of cancer and other disease, the prospectus says. Abel would not say what companies he is considering but did say it will consist of a mixture of large and small cap companies ranging from pharmaceutical manufacturers to surgical and medical instrument manufacturers and developers.
Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE
Subscribe to MFWire.com's News Alerts [click]
Email & Route 
Print 
Raw XML
