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 |
|
Tuesday, January 16, 2001 Triple Play Marketocracy Funds has added two new funds to its initial July offering. The ChangeWave and Technology Plus Funds opened on December 29. Which worthy investors have merited the privilege of quitting their jobs to plunge into the fund biz? None, yet. The firm is still hiring on pros for its funds. Tobin Smith, hedge fund manager and once a marketing exec, is managing the ChangeWave Fund. The fund's name and strategy come from Smith's book on investing. Paul McEntire, who runs a hedge fund as well as the BearGuard mutual fund, is managing the Technology Plus Fund. Both appointments buck the trend of mutual fund portfolio managers moving over to hedge funds. "Marketocracy is attempting to find the world's best investors," said a Marketocracy spokesman. "It's an opportunity to bring these two managers with track records to Marketocracy and make the fund offerings stronger." Hedge fund performance, however, is not easily accessible to consumers. The BearGuard fund, according to Morningstar, had over 50% of its assets in cash at the end of June. With dramatically erratic performance and downright bizarre cash holdings, Marketocracy may have a serious marketing hurdle to overcome in presenting its newest portfolio managers. The ChangeWave Fund is based upon Smith's book entitled ChangeWave Investing. The strategy exploits waves of change which radiate from broadband and wireless technology. Although both managers come from hedge funds, only the Technology Plus Fund is slated to employ hedging strategies. Designed to capitalize on the downfall of technology funds, it also plans to go short when appropriate. Given present market conditions, some might say this fund is a year late. Both funds are no-load, with 195-basis point fees. Printed from: MFWire.com/story.asp?s=26317 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |