Kinetics Asset Management has tapped two wholesalers and is seeking a third to tackle intermediary distribution, Steven Samson, chief executive officer, told the MutualFundWire.com. He added that the hirings are part of an effort to sell the firm's funds through intermediaries and gain entry to distribution through broker-dealer firms.

"We're hiring people for that business right now," said Samson, adding that the firm is "taking a regional approach." He declined to identify the new wholesalers other than by first name ("Mark" joined the firm from Josephthal and "Tom").

Samson further stated that the firm is "signing two to three selling agreements on a daily basis." It is also building a bank of telewholesalers to support the business. Samson said that he expects to build a telewholesalers department of 6-8 from none today. The telewholesalers will support the business from the firm's home office.

To create product for the channel, Kinetics chose to add "A" shares to its Internet Medical and New Paradigm and Internet funds.

Samson said that the firm decided to add "A" shares rather than "C" shares because "C" shares are not doing well. "They have never taken off," explained Samson. "We think the predominance of A shares is still there." He further added that the firm will add other share classes to its funds in the future.

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