A pair of financial advisors in Southern California just debuted their first mutual fund, and they might launch some more down the line.
On May 1, Woodland Hills, California-based Jewish Values Investment Funds (JVI Funds
]) launched the Six Thirteen Core Equity Fund
. That fund, JVI co-founder Justin Ross
says, leans to the growth side of equity, and he claims that it is "the only Jewish values mutual fund registered with the SEC"). Ross expects the firm to work on an income generating fund next, geared towards seniors, and eventually JVI might launch balanced or alternative strategies, too.
Fund-in-a-box shop Ultimus Fund Solutions serves
as the administrator, distributor, fund accountant, and transfer agent of the new fund. U.S. Bank
is the custodian, Cohen
is the independent accounting firm, and the Law Offices of John H. Lively & Associates
provides legal counsel.
Ross and JVI co-founder Evan Shorten
own the MF startup 50-50, and they also both work as advisors with a wealth management RIA, Paragon Financial Partners
. A third JVI team member, Brent Botwin
, is research and development coordinator.
Last year Ross was an FA at a wirehouse, Morgan Stanley. As he dug into impact investing, he found religiously influenced mutual funds designed for people who are Catholic or Muslim, but he couldn't find anything designed for investors who are Jewish. He wanted to bring together two of his passions, his faith and investing, and he left Morgan Stanley and teamed up with a friend, Shorten.
The name of JVI's first fund is a reference to the 613 commandments or mitzvahs in the Torah. The fund's investing strategy is built around several ideas: "repairing the world" through ESG principals; investing in companies that promote the development and growth of the economy of Israel; and supporting companies that are in turn big charity supporters. JVI then has an advisory board of rabbis and Jewish senior executives to weigh in on the funds' investments.
JVI itself will support charity, too.
"We're donating ten percent of the profits to different charities every year," Ross says. "Our goal is to bring at least one million dollars to the Jewish community every single year."
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