MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Wednesday, December 14, 2005 Bramwell's Fund Run Ending It looks like Elizabeth Bramwell’s decade long stint as a fund entrepreneur is about to end. Tuesday, National Life affiliate Sentinel Asset Management said that it has come to terms on a preliminary agreement to buy New York City-based Bramwell Capital Management. A final deal for the advisor to two funds with $260 million of assets is expected in the first quarter of 2006. The two firms did not disclose the price on the deal. Grail Partners, a consulting shop founded by Donald Putnam, advised Sentinel on the deal. Bramwell launched her fund shop in 2004 after jumping ship from Gabelli Asset Management. At that time, she was perhaps the best known woman portfolio manager on Wall Street. However, Bramwell lost the limelight as its funds underperformed during the tech boom of the Nineties and the funds failed to attract sufficient assets to build operating scale. Montpelier, Vermont-based Sentinel, which runs the Sentinel Funds, said that Bramwell’s two funds – Bramwell Growth and Bramwell Focus will be added to its own fund lineup and that they will maintain their investment objective. It also said that Bramwell will join it as a senior portfolio manager and become the leader of its large cap growth equity team. Christian W. Thwaites, president and CEO of Sentinel Asset Management, said that the deal will allow the two funds to be sold through financial advisors, a new distribution channel for the funds. Thwaites joined Sentinel earlier this year from Skandia Global Funds. Since then he has focused on building the firm’s distribution through advisors. "Elizabeth brings a wealth of experience and talent to Sentinel. Her excellent long-term track record and reputation as a highly successful Growth investor will add to our ability to deliver compelling investment options to financial advisors and their clients," said Thwaites. Shareholders for the two Bramwell funds will vote on the change in advisors (from Bramwell to Sentinel Advisors) in a special meeting scheduled for March 10. Printed from: MFWire.com/story.asp?s=10991 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |