Nothing invites more business like lowering the bar for entry.

Berwyn Funds advisor Killen Group [profile] has filed with the SEC to lower its minimum of $3,000 to $1,000 for its Berwyn Cornerstone Fund [see filing]. The amendment comes just a few weeks after the group filed the prospectus, and Raymond J. Munsch, the shop's president, says the change was made to entice retail investors.

The Berwyn Cornerstone Fund in particular was targeted, Munsch says, because "it's a small fund with a decent track record." Michael Magee, who was brought on board in February as chief operating officer, advised the move.

Munsch suggests that Magee is bringing much needed updates to the firm, bringing with him an expansive history in operations and marketing—a first for the firm who historically has been comprised solely of "investments people," according to Munsch. As of now there are no further specific initiatives for Magee, but Munsch indicates there well could be "maybe 12 months down the road."  

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