Newport Fund Management, a subsidiary of
Liberty Financial, today announced the launch of its sixth mutual fund, the
Newport Europe Fund.
This latest fund, a growth portfolio concentrating on mid- to large-cap companies, represents Newport's first foray investing in companies outside of the Pacific Basin.
Charles Roberts and
Michael Ellis, senior vice presidents of Newport will co-manage the new fund. Roberts, with over 25 years of experience in European investing, is the fund's lead manager.
"We believe this is an opportune time to invest in Europe given the evolving changes in their markets and business practices," said
Tim Tuttle, president of Newport Fund Management. "Since the U.S. stock market reached record highs, investors have been looking for another investment opportunity."
"European corporations are now restructuring and adopting the American business model which focuses on enhancing shareholder value," Tuttle added. "The Newport Europe Fund provides access to these European markets."
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