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Rating:T.O. Richardson Introduces First Mutual Fund Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, January 11, 1999

T.O. Richardson Introduces First Mutual Fund

Reported by Jason Shank

The T.O. Richardson Company (Farmington, CT) today announced the launch of their first mutual fund, the T.O. Richardson Sector Rotation Fund. It will have no-load and no 12-b 1 fee, and the transfer agent will be T. O. Richardson Securities.

The fund's manager, Austin Crowe, says that the fund's focus will be on the analysis of economic sectors in order to determine the top performing sectors. The fund then selects the top five to ten securities within the sector for investment and actively trades those securities. Crowe has used the sector rotation strategy applied to the fund for Richardson's separate account clients for the last 4 years.

Crowe says that "the fund is designed to meet or beat money market rates in a negative market cycle and in a strong market, outperform the S&P 500."

The company's ceo, Sam Bailey, when contacted, pointed towards the SEC's recent elimination of the short-short rule as one of the reasons for the timing of the fund's launch as well as the Gary Brinson study touting the importance of selecting industry groups for investment.

He also stressed that although there are other sector funds to choose from and recent entries into the market, his company's is the only actively managed sector rotation fund. Typically invested in 5-10 sectors, the fund has internal limitations to keep it from investing too heavily in any related sectors.

The fund's investments as of last week were in developing communications, bio tech, computers, leisure, and telecommunications. 

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