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Rating:Women-Owned Fund Firm Enters the Fray Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, December 05, 2000

Women-Owned Fund Firm Enters the Fray

Reported by Sean Hanna, Editor in Chief

The universe of fund providers is growing by one. Kit Cole Investment Advisory Services (San Rafael, California) is opening its flagship mutual fund, the Kit Cole Strategic Growth Fund, as part of an effort to expand the women-owned firm's business. The fund opened to new investors on November 7, 2000 and was initially marketing to Kit Cole's existing clients.

The firm believes that it will be able to bring a different perspective to the fund business, which has heretofore been dominated by men. Four of the five board member of the fund are women, as are both portfolio managers.

"Our goal is to empower women as both policy makers and managers. This is not a new philosophy for us," explained Kit Cole. She founded the firm in 1977 as a fee-based investment management and financial planning firm. It has since specialized in helping women and families reach their lifetime financial goals.

The firm also sees its focus on women as providing an opportunity, both to educate women investors and to manage the fund in a new way.

"A lot investment world is driven by formulas and analystics that may be outdated," explained Kristin Nicholson, assistant portfolio manager. "Women may think out of the box a little more and break out of the old paradigms." She added that the firm is using a top-down investment approach looking at the global economy and environment first, then industries, then leading companies in those areas.

With assets from existing clients the fund currently has between $7 and $8 million in assets, said Nicholson. It is registered in California, Nevada, New York, Florida and Utah and Firstar is acting as distributor.

Nicholson expects that the fund will be available in all fifty states in early 2001. She also said that it hopes to build out a lineup with a small-cap or mid-cap product in the future.

Jamie Tappan, the firm's chief operating officer, is handling the marketing for the fund. Her efforts are now focused on existing clients and in the Marin County and San Francisco Bay Area of California.  

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