is back as a mutual fund investment adviser. Effective yesterday, the Lancaster, Pennsylvania-based firm is once again the investment adviser of the mutual funds that were previously adopted
The Central Penn Business Journal covered
"We were offered the opportunity to re-adopt the funds because of our marketing ability," said Dan Moyer
, managing director at Emerald Advisers, in an interview with The MFWire.com
Moyer declined to disclose the price tag of the transaction.
Forward Management CEO Alan Reid
was not immediately available for comment for this story.
The funds reverted back to their original names: Emerald Growth Fund
and Emerald Banking & Finance Fund
The growth fund, which has been in existence since 1992, currently has $130 million of AUM. The banking & finance fund, launched in 1997, has $36 million of AUM.
"Forward's team has done an excellent job as stewards of the funds over the past several years," Moyer said in an announcement
posted on Emerald's Web site. "But Emerald has always enjoyed a unique relationship with investment professionals throughout the mid-Atlantic region and we missed the daily interaction with local investment professionals when the funds transitioned to
"The Emerald Funds are known throughout our region as a 'local' fund family and we are proud that the Emerald Funds are back,"
Moyer told The MFWire
that Emerald's original wholesaling team is back intact. The team consists of three externals and one internal. Their efforts are complemented by Emerald's six-person marketing team.
Announcement from Emerald Advisers
Mutual Funds Return to Emerald – Ready for Growth
Mar 20, 2012
On March 19th the Emerald Mutual Funds returned to the investment advisory firm that founded the fund family in 1992 as plans are underway to grow the funds and re-connect them to the firm's long-standing regional sales network and local investors. The two mutual funds have reverted to the names Emerald Growth Fund and Emerald Banking & Finance Fund as the funds' investment advisory contract transferred from the Forward Funds to Leola, PA-based Emerald Mutual Fund Advisers Trust. The Trust is a wholly-owned subsidiary of Emerald Advisers, Inc.
Founded by Emerald Advisers in 1992, the funds' management transferred to California-based Forward Funds in 2005 while Emerald maintained its role as portfolio manager for the funds thru a subadvisory agreement with Forward. "Forward's team has done an excellent job as stewards of the funds over the past several years," said Emerald Advisers managing director Dan Moyer. "But Emerald has always enjoyed a unique relationship with investment professionals throughout the mid-Atlantic region and we missed the daily interaction with local investment professionals when the funds transitioned to California," he said. "The Emerald Funds are known throughout our region as a 'local'[ fund family and we are proud that the Emerald Funds are back."
Emerald's chief investment officer Kenneth G. Mertz, CFA has served as a portfolio manager for the Emerald Growth Fund since October, 1992. "Our investment philosophy of investing in smaller, growth-oriented companies by hitting the road and meeting on-site with a firm's managers and employees, and their competitors and suppliers, is a great complement to working hand-in-hand with local investment professionals in bringing the Emerald Funds to investors throughout the region," Mr. Mertz said.
Founded in 1992, the Emerald Growth Fund favors smaller-sized companies with market capitalizations that are equal to or less than the largest company in the Russell 2000 Index and seeks companies with perceived leadership positions and competitive advantages in niche markets. The Fund is co-managed by Mr. Mertz, Stacey Sears and Joseph Garner.
Founded in 1997, the Emerald Banking & Finance Fund invests primarily in the stocks of community banks, insurance companies and other institutions related to the financial services industry. The Fund is co-managed by Mr. Mertz and Steven Russell, Esq.
Founded in 1991 in Lancaster, Pennsylvania, Emerald Advisers, Inc. is a wholly-owned subsidiary of Emerald Asset Management, Inc. Emerald moved to a larger headquarters in Leola, Pennsylvania in November, 2011 as part of its ongoing growth-oriented product development and acquisition strategy. Emerald also maintains offices in King of Prussia and Pittsburgh, Pennsylvania.
Founded in 1991, Emerald Asset Management, Inc. is a diversified investment management company that operates thru its wholly-owned subsidiaries Emerald Advisers, Inc. and Emerald Mutual Fund Advisers Trust. Emerald Advisers and PMG jointly own Emerald Fixed Income Advisers, LLC. Assets managed by these companies totaled approximately $2 billion as of December 31, 2011. "Driven by Research," Emerald employs an intense fundamental, research-focused investment philosophy and focuses primarily on growth-oriented equity investing and high-quality disciplined fixed-income investing.
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