Cove Street Capital has joined the ranks of mutual fund sponsors. The El Segundo, California-based firm is now the investment adviser of a mutual fund that it used to sub-advise.

Cove Street took over from City National Asset Management as the investment adviser of the CSC Small Cap Value Fund on January 27. The fund has $21 million of AUM.

Jeffrey Bronchick has managed the fund since September 30, 1998, starting from when he was with Reed Conner & Birdwell, LLC. Last July, Bronchick launched Cove Street Capital.

In January, Cove Street hired Greg Farber as director of institutional marketing and client service. Farber's mandate is to pitch the fund to institutional investors, consultants and RIAs.

U.S. Bancorp Fund Services, LLC is the fund's administrator, accountant, and transfer agent; Quasar Distributors, LLC is the distributor and U.S. Bank N.A. is the custodian.

Cove Street is also one of the sub-advisors of the Litman Gregory Masters Select Smaller Companies Fund.  

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