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, July 20, 2001 Firsthand on Summer Tour Firsthand Funds is taking its show on the road this summer as it continues to sharpen its focus on advisors. The San Jose, California-based firm is targeting registered investment advisors in its key markets as part of an effort to explain its story. The first stop was Orange County, California. Next week its team is hitting New York City and Boston. Another stop is set for Seattle later this summer. The cities were chosen based on the density of the firm's customers in the region, explained Steven Witt, managing director. He added that the firm has added four internal dedicated advisor reps to focus on better outbound calling and servicing for that niche. That team reports to Phil Mosakowski, vice president of marketing. At this point it has no plans to add further to sales and marketing staff. Earlier this year, Firsthand landed David Dittmore from Forward Funds as it institutional business development head. He will focus his efforts on retirement plans, foundations and endowments, and subadvisory relationships, although the last is not expected to be a major push. Although advisors still represent a minority of assets at Firsthand when compared to direct investments from individuals, they are a key market. Interestingly, Witt reports that advisors have been more likely to redeem assets that direct investors in the past year. Still, for a tech-sector firm with nearly $5 billion in assets to start the year total redemptions have been a miniscule $50 million so far this year. The firm now has $1.7 billion in assets, but it has been the market, not investors, that has done the damage, claims Witt. The firm is taking three analysts to meet with RIAs. They include: Minyi Tang, its networking optical analysts was previously at Nortel Networks, Rex Dwyer, its wireless and fixed wireless analyst, and Ken Perlman, director of research. Related Stories Printed from: MFWire.com/story.asp?s=26806 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |