Babson College professor Joel Shulman
rolled out a mutual fund focusing on entrepreneurial
companies. The EntrepreneurShares Global Fund
launched November 11.
Shulman, an associate professor who holds the Robert F. Weissman Term Chair of Entrepreneurship at Babson College, put together a team this year that includes alums from Leuthold Weeden Capital Management
The fund comes in three share classes: A (with an expense ratio of 195 basis points), Retail (195 bps) and Institutional (170 bps). [SEC filing
Weston Capital Advisors
is the investment adviser. EntrepreneurShares LLC
is the sub-adviser to the Entrepreneur Series Trust. Shulman formed Weston and EntrepreneurShares this year.
U.S. Bancorp Fund Services
serves as the fund's administrator, fund accountant and
transfer agent, U.S. Bank
is the custodian and Rafferty Capital Markets
is the distributor.
The strategy used in the mutual fund is the same one that Shulman has been using for five years in a separately managed account. The strategy, he said, generated an annualized rate of return over 11 percent for the past five years.
"In the academic research I've done, what we consider entrepreneurial
companies outperformed non-entrepreneurial companies," he said.
"People said to us, "You're running an SMA. Why don't you create a mutual fund?'"
Shulman also thought about going the ETF route, but ultimately decided on
delivering his strategy in a mutual fund vehicle.
In February of this year, David Cragg
, a former chief operating officer
and chief financial officer at Leuthold, joined Shulman's firm as
chief financial officer. The team also includes former FundQuest sales executive Robert Peatman
, who joined as director of sales, Vikram Kondur
from Innova Securities as senior associate and Daniel Dalet
as director of international operations.
Former National Financial CEO Norman Malo
is among the advisors to EntrepreneurShares.
Stay ahead of the news ... Sign up for our email alerts now