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Wednesday, March 16, 2011

Bishop Anoints a Mutual Fund Sales Chief

Reported by Neil Anderson, Managing Editor

Bishop Asset Management just officially named its first mutual fund sales chief. Today the Boston-based startup confirmed that Kim Furnald joined up as executive vice president to lead sales and distribution for Bishop's flagship Bishop Volatility Flex Fund and for its future products.

The MFWire first reported on Furnald's hiring last month (see The MFWire, 2/8/2011).

Furnald previously worked with Morningstar and Fidelity.

The rest of Bishop's executive team includes: co-founder and president Rob Steele (co-founder of Rydex); co-founder and chief investment officer Kevin Nugent; and co-founder and PM Bruce Pomper (an ex-partner with Cantor Fitzgerald). Bishop launched its fund on November 19 as the first in a planned batch of volatility-monetizing funds.

Company Press Release

March 15, 2011, BOSTON, MA—Bishop Asset Management is pleased to announce the latest addition to the boutique asset management shop. Kimberly A. Furnald joins the firm as Executive Vice President, responsible for leading the sales and distribution efforts for the Bishop Volatility Flex Fund (BVFAX) as well as all future investment products launched by the firm.

Kim began her distinguished career at Fidelity Investments, where she spent more than 15 years cultivating and strengthening firm relationships with major institutional investors. Subsequent roles included high-level positions at Morningstar, as well as with a number of boutique firms in the alternative and traditional investment spaces.

“I am both thrilled and honored to be joining the team at Bishop Asset Management,” said Ms. Furnald. “The executive roster consists of some of the most forward-thinking pioneers in our industry today. My goal is to assist many of the top financial advisors in maximizing returns, while reducing overall market risk, through our innovative, volatility-monetizing solutions.”

We believe the Bishop Volatility Flex Fund is the only fund of its kind in that it seeks to perform in both rising and falling market volatility environments. The Fund is the first in a series of volatility-monetizing funds that Bishop intends to bring to market in the coming years, and Ms. Furnald will be responsible for the distribution efforts for all future product offerings.

“We are so fortunate to have Kim as a key part of our executive team,” said Rob Steele, Co-Founder and President of Bishop Asset Management. “We were very deliberate in our recruitment, seeking someone who not only had broad industry experience, but also a well-respected professional with an outstanding reputation among their peers. Being a fellow “Battling Bishop” (Ohio Wesleyan University) certainly didn’t hurt.”

The expanded executive team collectively has more than 100 years of professional investment experience, including product development, portfolio management, research, trading, sales and marketing. In addition to Ms. Furnald, the executive team includes:

Rob Steele – Co-Founder and President: founding executive of Rydex Investments, a leading alternative investment management firm offering ETF and mutual fund products;

Kevin Nugent – Co-Founder and CIO: developed and traded the volatility flex strategy as a managed separate account and a hedge fund product;

Bruce Pomper – Co-Founder and Portfolio Manager: former VP and Partner at Cantor Fitzgerald, then managing private separate accounts for well over a decade.

Bishop Volatility Flex Fund Symbol Annual Operating Expenses

Class A BVFAX 1.33%

Class C BVFCX 2.09%


Founded in 2010, Bishop Asset Management is the Advisor for the Bishop Volatility Flex Fund. The Firm seeks to create and distribute investment strategies that harness the benefits of market volatility and deliver solutions to the current challenges within traditional asset allocation.

For more information on the Bishop Volatility Flex Fund, or to speak with either Kim Furnald or Rob Steele, please contact Melinda Staab at 760.295.8245 or Melinda@PRLatitude.com 

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