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Wednesday, October 01, 2003

Integrity Moves Closer to NYC

by: Sean Hanna, Editor in Chief

Minot, North Dakota-based Integrity Mutual Funds has opened a New York City-area office. The firm, which has $350 million of assets under management in 14 funds, opened the office as part of its hiring of portfolio manager F. Martin Koenig.

Koenig will act as portfolio manager to four stock funds Integrity acquired from the Portland, Oregon-based Williamette Family of Funds. He will handle the $60 million of assets from an office in Huntington, New York. Koenig had been the CEO and CIO of Koening Advisors in Hoboken, New Jersey before being hired by Integrity.

Robert Walstad, chairman and CEO of Integrity, said that the opening of the new office represents a significant step in the evolution of the firm from "being primarily a regional fixed income shop in the upper Midwest to an organization with a much broader geographic presence offering a much wider choice of investments to shareholders." 

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