Everyone in the mutual fund industry knows of the Yacktman family. And now another member is entering the business.
Family head Don Yacktman
founded Yacktman Asset Management
] in 1992 and currently serves as president. His son Stephen has worked at the firm for 20-years. Don recently passed the torch of sole chief investment officer of the firm
However, Stephen isn't the only example of Don's seven offspring active in finance.
For the past five years, son Brian
, who also once worked at the family's asset shop, has run the investment firm YCG
(formerly known as Yacktman Capital Group) with partner Will Kruger
YCG has just launched its first mutual fund, the YCG Enhanced Fund
. The fund is based on the firm's five-year old flagship all cap equity strategy which also uses an "option enhancement composite strategy."
The fund is PMed by Brian Yacktman and is co-PMed by Elliott Savage
, formerly of the multi-billion dollar long-short equity hedge shop Highside Capital Management
Shortly after launching the fund, Ronald Ball
joined YCG. Ball had been a PM at Yacktman Asset Management for 20 years.
YCG partner Kruger said that in the case of Brian, the apple didn't fall far from the tree.
"Growing up around the dinner table, Brian learned to pick stocks from his Dad," said Kruger.
Brian had started out at his father's firm, which had high investment minimums from clients. He set out, with his family's blessing, to start his own shop, which specialized in spreading access to similar strategies, to a broader audience.
"Brian wanted to move beyond the traditional institutional relationships his Dad and brother focused on," Kruger said.
Brian, however, has added some of his own special ingredients to his investing strategy, such as the sale of puts and covered calls to augment income.
"We just go three months out with the options strategy," Kruger said. "The premiums are a great way to augment income."
Kruger said the fund is now on Schwab
, TD Ameritrade
. They are now working out an agreement with E*Trade
He said the firm plans to eventually reach out to the wirehouses, but they need to build up assets. YCG currently has $225 million in AUM.
In order to reach out to advisors, Kruger and Brian frequently plan trips to one city and then reach out to as many RIAs as possible while there.
"Many people don't realize that Don has another son in the industry, but we have a very compelling story," he said.
Here is the press release for the launch:
Company Press Release
Brian Yacktman's Flagship Strategy Reaches Significant 5-Year Milestone Mark and Becomes Available Through a Mutual Fund
AUSTIN, Texas, Sep 10, 2013 (BUSINESS WIRE) -- YCG, LLC, formerly known as Yacktman Capital Group, LLC, reached the milestone of a 5-year track record with its flagship Concentrated with Option Enhancement Composite Strategy. The strategy generated 11.16% net annualized returns (06/30/2008 - 06/30/2013), significantly outperforming the S&P 500 index annualized return of 7.01% during the same five year period.
The firm has now launched a no-load mutual fund which utilizes the same investment strategy. The fund is managed by Brian Yacktman, formerly of Yacktman Asset Management, and co-managed by Elliott Savage, formerly of Highside Capital Management, a multi-billion dollar long-short equity hedge fund.
Shortly after launching the fund, YCG welcomed Ronald Ball. Prior to joining the firm, he served as a portfolio manager at Yacktman Asset Management for 20 years.
For more information, you can visit YCG's website located at www.ycginvestments.com.
About YCG, LLC:
YCG, LLC, with $225 million under management, is an independent investment advisory firm founded in 2007 by Brian Yacktman and Will Kruger. In July 2012, the firm changed its name from Yacktman Capital Group, LLC, to YCG, LLC, to prevent confusion with Yacktman Asset Management.
YCG, LLC (YCG) is a registered investment advisor. The term "registered" does not imply a certain level of skill or training. The firm was established in 2007 and is not affiliated with any parent organization.
This release is for informational purposes only and is not intended for any individual investor. YCG is not liable for investment decisions made based on the content of this document. YCG does not guarantee the accuracy or reliability of information provided by third parties.
Past performance is no guarantee of future results. The strategy is subject to a number of risks and may not be suitable for all investors. Investment value may fluctuate, and an investor may lose money.
Performance has been calculated on a best efforts basis and in accordance with the firm's written policies and procedures. Performance is reported in U.S. Dollars. Performance results reflect all income, gains and losses and the reinvestment of interest and other income. All rates of return are reported "NET" of fees.
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