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Rating:A Virginia-Based Fund Shop Lowers its Fees Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, September 26, 2011

A Virginia-Based Fund Shop Lowers its Fees

Reported by Hung Tran

Castle Investment Management, LLC today said that it is reducing the expenses of the Castle Focus Fund from 158 basis points to 142 bps on November 1.

The Castle Focus Fund is sub-advised by St. James Investment Company with Robert Mark as the PM. The fund is available with no transaction fee on the major mutual fund supermarkets, including Schwab, Fidelity and Pershing.

“With assets increasing from less than $8 million at the beginning of 2011 to over $50 million today, we are happy to announce this first expense reduction as the fund is now able to begin to realize economies of scale,” stated Caeli Andrews, co-founder of Castle Investment Management.
ALEXANDRIA, Va./ Castle Investment Management, LLC, is pleased to announce that it is reducing the expenses of the Castle Focus Fund (MOATX). The expense ratio will be reduced from 1.58 to 1.42 percent1 on November 1, 2011.

“With assets increasing from less than $8 million at the beginning of 2011 to over $50 million today, we are happy to announce this first expense reduction as the Fund is now able to begin to realize economies of scale,” said Caeli Andrews, co-founder of Castle Investment Management.

Castle Investment Management is dedicated to reducing the expense ratio for the Castle Focus Fund. The Fund is available with no transaction fee on the major mutual fund supermarkets including Schwab, Fidelity and Pershing.

As of September 21, 2011, the Fund is up 0.72 percent on a year-to-date basis, while its benchmark, the S&P 500, is down 5.87 percent.

“The Castle Focus Fund has performed as we have intended this year by participating sensibly when the markets have moved up, as they did early in the year, and losing less when the broad market pulled back significantly over the last few months,” said Andrews.

The Castle Focus Fund is sub-advised by St. James Investment Company with Robert Mark as the portfolio manager. St. James manages the Fund using the same portfolio manager and process they have used to manage institutional accounts since 1999. The Castle Focus Fund is a focused portfolio generally holding 20 to 30 equity positions trading at a significant discount to the Portfolio Manager’s determination of intrinsic value.

To view the Castle Focus Fund’s performance report, please view the PDF here: Castle Focus Fund performance report. 

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