Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Two Small Subadvised Fund Shops IntermiX Not Rated 1.0 Email Routing List Email & Route  Print Print
Wednesday, May 13, 2015

Two Small Subadvised Fund Shops IntermiX

Reported by Neil Anderson, Managing Editor

A pair of subadvised mutual fund shops on opposite coasts are joining forces to create a firm with a combined $1.1-billion in assets under management and a focus on risk management.

Jerry Murphey, president and CEO of FolioMetrix [profile] (based in Portland, Oregon), and John Pileggi, managing partner of American Independence Financial Services [profile] (based in New York City), confirm that on Friday they signed a deal to merge their two shops. The deal, slated to close in September 2015, will create a new firm under the RiskX Investments brand, taken from FolioMetrix's line of RiskX mutual funds.

Pileggi will serve as CEO of RiskX, and Murphey will serve as president. The single-manager subadvised funds (and separately managed accounts) under the American Independence Funds brand will keep that, while FolioMetrix's multi-manager, tactical, subadvised funds (and SMAs) will use the Rx Funds brand. American Independence's team of 18 currently offers 10 mutual funds, while FolioMetrix's team of 14 offers 11 funds, though the fund lineup may change as the two firms merge. American Independence has about $820 million in AUM, while FolioMetrix recently crossed the $250-million AUM mark.

FolioMetrix has a team of 14 and is backed by Grail Partners, an M&A shop that specializes in the asset management industry. Though the terms of the American Independence-FolioMetrix interview were not disclosed, Pileggi confirms that "Grail and an undisclosed private investor together put capital in and will stay involved."

"It's essentially a merger of equals," Pileggi tells MFWire, "Both management teams are going to have fairly significant and fairly equivalent stakes, with outside investors also having a significant stake."

"RiskXInvestments will combine two great firms to promote active risk management of all types for all clients," states Don Putnam, managing partner at Grail Partners. "We will help the RiskX Investments team pursue organic growth and strategic partnerships."

Pileggi says he's been writing lots of "one firm" memos.

"We have a great product suite between the two firms," Pileggi says. "We're going to operate as one firm. We're going to succeed as one firm."

"Everybody is 100-percent pulling together," Murphey tells MFWire.

Murphey says that working with Pileggi and the rest of the American Indepence team has been "a powerful thing to experience".

"You really see a seasoned professional who knows the ins and outs of this business and how to do the small things that really make a difference," Murphey says. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

1.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use