An RIA in Texas is shutting down its five-year-old mutual fund this week.
On November 4 Austin-based Alpha Capital Management's BearlyBullish Fund
, per a recent filing
with the SEC. The one-star
, large cap growth fund has about $412,000 in assets.
and Michael Turner
, senior PMs and co-founders of ACM, did not return calls for comment on the move.
ACM has about $501 million in AUM, per its most recent form ADV
filed on March 29, 2016. The form reveals that most of ACM's clients are individuals (26 to 50 percent) or insurance companies (also 26 to 50 percent), while investment companies (i.e. mutual funds) represent up 10 percent of its clients.
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