Knoxville, Tennessee-based BPV [profile] has entered the '40 Act business with a pair of mutual funds launched this month [SEC filing].

BPV Family of Funds' Mike West told KnoxvilleBiz.com that he sees the products -- BPV Core Diversification Fund and BPV Wealth Preservation Fund -- having AUM of $30 milion within a couple of weeks. West also plans to roll out more mutual funds down the road, and he has $100-million dreams.

ALPS Fund Services, now owned by DST Systems, is the admnistrator, transfer agent and accounting services agent, ALPS Distributors, also owned by DST, serves as distributor, Union Bank, N.A. serves as custodian, Deloitte & Touche LLP is the independent registered public accounting firm and Kilpatrick Townsend & Stockton LLP serves as legal counsel.

KnoxvilleBiz.com notes that BPV isn't the first Knoxville-based firm to run mutual funds. There was Robert Loest's IPS Advisory, which in 2005 merged with Integrity Funds. (Integrity, in turn, sold its sold its mutual fund business to Corridor Investors in 2009.) Loest passed away in 2010.  

Edited by: Armie Margaret Lee


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