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, February 6, 2001 Advisors' Choice Choice Investment Management launched its third fund offering on February 1. The Choice Long-Short fund is a load fund with A and C share classes, a strategic about-face for the otherwise no-load firm. "It's a new sequence of funds," explained Wil Schlaff III, vice president of sales. "The reason for it is because we are looking to reach the regional broker-dealers." So far, so good: Schlaff said the ploy is paying off. "Class A shares is what people want, and right now; that's 90% of our assets," he said. "In just three days, we've reached just below $15 million in the new product, and $14 million is class A shares." The firm is looking to bulk up its distribution. With $150 million under management, the Denver-based firm will start adding to its wholesaling force of four once that figure reaches $300 million. "We expect this product to get us there," said Schlaff. The new fund has a broad all-cap reach but is non-diversified. It is designed to even out returns through market swings, according to Patrick Adams, portfolio manager for the Choice Funds and chairman of the firm. "This fund gives me the tools I need to maneuver through up and down markets with the goal of making money regardless of market conditions," he said in a statement. Printed from: MFWire.com/story.asp?s=26336 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |