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 |
|
Wednesday, October 27, 2010 A New Mutual Fund Player Makes a Swanky Debut Swank Capital is using the Schwab Impact Conference, which kicked off yesterday at the Boston Convention and Exhibition Center, as an opportunity to get the word out on its foray into the mutual fund business. Swank on October 19 unveiled the Cushing MLP Premier Fund [SEC filing] and formally announced the launched today. Company officials told The MFWire.com that the Dallas, Texas-based firm plans to launch a second mutual fund early next year. The MLP Premier Fund is available through supermarkets such as Schwab OneSource, Vanguard and Pershing, said Gavin Worthy, vice president of sales operations and business development. Swank is working to get the fund on Fidelity FundsNetwork, ETrade and others, and is also selling the funds through wirehouses and independent broker-dealers. To help get build awareness of its '40 Act product, Swank Capital hired PR firm SunStar Strategic. Demand for high income, high yield offerings prompted the product launch, Worthy said. Swank Capital has been around since 2001 and has AUM of more than $1 billion. Swank and its subsidiaries serve as investment adviser to funds that invest mainly in securities of MLPs and other natural resource companies. The fund comes in three share classes: A, C and I. Until at least November 2011, the fund's operating expenses will not exceed 140 bps for the three share classes. Swank Energy Income Adviser, LLP is the investment adviser, U.S. Bancorp Fund Services is the administrator, transfer agent, dividend paying agent and shareholder servicing agent, U.S. Bank serves as custodian, Deloitte & Touche LLP is the indepedent registered public accounting firm, Quasar Distributors is the distributor and Skadden, Arps, Slate, Meagher & Flom LLP is the legal counsel. Printed from: MFWire.com/story.asp?s=33838 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |