One of RidgeWorth's [profile] allies is entering the mutual fund business directly. Yet the West Coast-based growth equity boutique will continue to work with RidgeWorth, too.

Nancy Zevenbergen RidgeWorth Investments Portfolio Manager, President and Chief Investment Officer

Last month Nancy Zevenbergen and her team unveiled a pair of concentrated growth equity mutual funds, the Zevenbergen Growth Fund and the Zevenbergen Genea Fund. Joe Dennison, associate PM at Seattle-based Zevenbergen Capital Investments (ZVNBRGN), confirms that the two funds are Zevenbergen's first mutual funds of its own. Quasar distributes the funds.

Atlanta-based multi-boutique RidgeWorth has a minority interest in Zevenbergen, and Zevenbergen does mutual fund subadvisory work for RidgeWorth. And the RidgeWorth and Zevenbergen folks say they're sticking together.

"Their recent announcement does not change our relationship with Zevenbergen Capital Investments," Ian Bachrach, managing director of marketing for RidgeWorth, tells MFWire in an e-mailed statement. "We support Zevenbergen as they expand their product offerings ... We look forward to their continued success."

Ian Bachrach RidgeWorth Investments Managing Director, Marketing

Dennison says that the new Zevenbergen funds use "same strategy, same process and philosophy" that the team has been using in separately managed accounts since Zevenbergen's beginnings in 1987. In contrast with Zevenbergen's diversified investing for RidgeWorth, the two Zevenbergen-brand funds are both concentrated and more flexible.

The new funds are aimed especially at the independent RIA channel and are already on the Schwab platform, Dennison says. In terms of marketing and distribution of the new funds, he adds, it's "still early days," though the Zevenbergen folks foresee "taking more control of distribution" than they have in the past. 

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