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 |
|
Friday, December 1, 2000 Delayed New Net Fund Launches WWW Advisors in Lexington, Kentucky has announced the opening today of its Global Internet Fund. With dot-coms crashing like Windows 98, a lot of investors and fund executives may be scratching their heads over this one. "This is something that we planned earlier this year and was made effective on November third, but with market condidions we held off releasing it," said Lawrence York, chief investment officer and president of WWW Advisors. "We feel it's as robust an opportunity, even a greater opportunity, because of the worldwide reality that we see with the Internet." York's investment strategy for both his funds is based on equal weighting among what he calls mature, mid-life and adolescent companies. By maintaining a broad view of the internet, not having a tunnel vision of dot-coms, he sees rich investment opportunities for his no-load funds. "We have never been all dot-coms because that doesn't fit our definition," York explained. "You're going to see that the internet is really dynamic and moves and changes and evolves, but it's a fantastic long-term opportunity. What we see here that's going on that apparently other companies don't see is that the internet is emerging and there is a myriad of players that are working on it simultaneously." York, confident of his ability to effectively manage his funds, still sees marketing challenges ahead. Regardless of the company's investment strategy, won't investors and advisors balk at an all-internet fund in a decidedly downhill sector? "They probably will initially but it in the long run it will be like anything else, it will be the performance that attracts people or not and we know that this sector is going to have incredible returns," York said. The company's Internet Fund has gained legitimacy with a five-star Morningstar rating, but is still only capitalized at $50 million. WWW Advisors is actively looking to expand services on its Web site, introducing on-line investing next year, and fully take advantage of its distribution channels. The new fund includes global investments, while the 4-year-old Internet Fund sticks closer to home. Why wait until now? "Four years ago, there weren't enough companies to invest in," York said. "You have to have hunreds and hundreds of companies to invest in. This is why we've delayed with this." Now that there are enough companies to invest in without magnifying risk, WWW Advisors has a small cap fund on the drawing board for next year. York also told MutualFundWire of a second fund planned for the third quarter but was reluctant to offer details because of its unique nature. Printed from: MFWire.com/story.asp?s=26253 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |