Kornitzer Capital Management [see profile] is tweaking one of its Buffalo Funds. Last week the Mission, Kansas-based mutual fund firm filed to change the name and strategy of the $184.6 million, four-star Buffalo Balanced Fund while also adding a co-PM, Paul Dlugosch. On July 29 it will become the Buffalo Flexible Income Fund.

The fund's current, two-part strategy emphasizes growth, then income. That's going to change, though.

"We're going to flip-flop that," Buffalo spokeswoman Laura Gibson told The MFWire.com., adding that the fund will also be less constrained in terms of its asset allocation.

Dlugosch, who also co-PMs Buffalo's high yield fund, will co-PM the re-branded fund alongside president and chief investment officer John Kornitzer. What prompted the strategy switch?

"With the Fed Funds rate at zero, we wanted to give the fund the flexibility to invest anywhere," Dlugosch told The MFWire.com, adding that the bigger emphasis on income will make the fund more appealing to the Baby Boomer generation as they shift into retirement. 

Edited by: Neil Anderson, Managing Editor


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