A Virginia RIA is about to launch a mutual fund focused on its home state. This week Abingdon, Virginia-based Virginia Financial Innovation Corporation filed
to launch the Virginia Equity Fund
on January 10, under the Our Street Funds
For 195 basis points, the new fund will invest primarily in publicly-traded companies that are based (or have big operations) in Virginia. VFIC's J.C. Schweingrouber
will PM the fund. Huntington
will custody the fund, the Law Offices of Patricia Foster
will provide counsel, Mutual Shareholder Services
will serve as fund accountant and transfer agent and Rafferty Capital Markets
will handle distribution.
VFIC has been pondering this launch for at least 20 months -- the firm fist filed
with the SEC back in February 2009 to propose the fund.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now