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 |
|
Monday, October 22, 2001 New Fund Keeps Web Hopes Alive Marketocracy Funds is offering up a new fund, and yes, it does have professional portfolio management. The Silicon Valley based firm was founded with the concept of letting investors submit stock picks. Eventually, the best of those stockpickers would be made a fund manager. However, the new fund (The Masters 100 Fund) will be managed by firm founder Ken Kam. The fund will be based on the m100 Index. That index is based on the 100 best-performing, virtual portfolios managed by the members of Marketocracy.com and typically consists of 1,500 stocks. Still, Kam will retain final discretion over the portfolio. The fund differs will be a pure capital appreciation fund, able to investin any sector. The hook is that it will let investors best ideas perculate to Kam as the portfolio manager. The question is whether such a concept is still viable in the post-dotcom age. Other firms with similar concepts such as Stock Jungle and Fund Democracy have recently thrown in the towel on their efforts. Kam started the firm after leaving Firsthand Funds where he was a cofounder with Kevin Landis and a portfolio manager. Printed from: MFWire.com/story.asp?s=24543 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |