he door between the mutual fund and hedge fund industries swung the other way today. Hedge fund specialist Kauser Capital Management
opened the Technical Chart Fund
, its first SEC-registered mutual.
The Boulder, Colorado-based manager is adopting its hedge fund skills for the fund. The portfolio manager will be able to take both long and short positions in stocks. The manager will also be able to invest across a wide range of market caps. The goal of the fund is to limit volatility in investors' portfolios.
The fund will also differ from most current offerings by following a technical, rather than fundamental, stock selection strategy.
"In this era of extremely volatile stock markets and economic uncertainty, The Technical Chart Fund will enable the average investor to participate in a fund that will attempt to provide a hedge against severe losses during declining markets. The Fund will utilize an investment strategy that has generally only been available to wealthy individuals eligible to invest in hedge funds," said Matthew Rich, the manager of The Technical Chart Fund. Rich is located in New York City.
The no-load fund requires a minimum initial investment of $5,000. It will also get a distribution boost by taking a spot in US Bancorp Fund Services Professionally Managed Portfolio Series.
Other fund firms may want to watch the reception that investors give the new fund as a gauge of how ready investors and their advisors are to buy hedge fund like vehicles.
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