MutualFundWire.com: Dougherty Hands Off the Reins to Pyxis

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Tuesday, June 19, 2012

Dougherty Hands Off the Reins to Pyxis

Pyxis Capital has a new president. Former Ivy Funds and ING VP J. Bradley Ross took the helm Monday at the Dallas-based investment advisor and now oversees the firm's 21 funds.

Ross, who replaces outgoing president Joe Dougherty, told the MFWiretoday that his major objective as Pyxis' new president is to build out the distribution team for alternative investments, an area he sees as having the potential for great growth.

Outgoing president Dougherty resigned earlier this month.

"One of the things that attracted me and is the most important about Pyxis is its focus on alternative investments," Ross said. "We're going to streamline that, drive down on what the firm does well, which is alternative investments."

"We need to broaden out here and refocus," he added.

In general, Ross expects great growth in the alternatives space, predicting that clients' allocations in alternatives will grow to around 10 percent to 15 percent -- or around $1.2 trillion to $1.4 trillion -- within the next five years. Current allocations in alternatives average between three percent and four percent, he said.

A 25-year financial services industry veteran, Ross comes with extensive experience in building distribution teams.

He was most recently an executive VP and national sales director of Shawnee Mission, Kansas-based Ivy Funds, a subsidiary of asset management firm Waddell & Reed Financial, Inc. Prior to that, he acted as senior VP, national sales manager, independent channel for ING Funds Distributor, the wholesale distributor of ING mutual funds, in Scottsdale, Arizona.

Regarding his departure from Pyxis and his successor, Dougherty stated in company press release, "Pyxis is well positioned for me to take this opportunity to step away and spend more time with my family. I am proud to have seen Pyxis grow to where it is today and believe it will achieve continued success under Brad's leadership and vision."

COMPANY RELEASE
Pyxis Capital Names Financial Services Veteran J. Bradley Ross As President
Industry leader brings record of significant asset growth and executive leadership to growing alternatives fund family

DALLAS, June 19, 2012 /PRNewswire/ -- Pyxis Capital, a registered investment adviser serving financial advisers, institutions, and individual investors seeking registered alternative investment solutions, today announced that J. Bradley Ross has been named President.

Mr. Ross has been in the financial services industry for over 25 years with a proven track record in raising assets, building teams and expanding distribution channels for various fund platforms. His deep skill set includes asset management, global multi-channel distribution, product development, market analysis and strategic planning.

"The alternative products space is still young and based on the firm's background, platform and team, Pyxis is well positioned to assume the leadership role in this arena," said Mr Ross. "I was attracted to Pyxis because of this positioning plus their innovative thinking and commitment to offering a compelling set of alternative investment solutions."

Mr. Ross was most recently Executive Vice President and National Sales Director of Ivy Funds, which he joined in its infancy in 2003 and grew to $55 billion in assets. He was charged with spearheading all aspects of that firm's retail distribution effort.

"His most recent success at Ivy paints a perfect example of what he brings to the table for Pyxis," said Mr. Scott Kavanaugh, chairman of the board for the Pyxis Funds. "Brad has added significant value to every organization he has been involved in."

Prior to Ivy, Mr. Ross was Senior Vice President, National Sales Manager, Independent Channel for ING FUNDS in Scottsdale, AZ. Throughout his 25 year career Mr. Ross has held senior sales, business development and marketing roles at Voyager Asset Management, Minneapolis, Van Kampen, Bankers Trust and Alliance Capital Management. He graduated from the University of Denver with a B.A. in Mass Communications and Political Science. Mr. Ross serves as a member of the Sales Force Marketing Committee of the Investment Company Institute.

Mr. Ross's appointment is concurrent with the resignation of former Pyxis President Joe Dougherty, who stated, "Pyxis is well positioned for me to take this opportunity to step away and spend more time with my family. I am proud to have seen Pyxis grow to where it is today and believe it will achieve continued success under Brad's leadership and vision."

Pyxis Funds include 21 funds comprising a diverse set of investment strategies—from broad-based equity and fixed income investments to a recognized expertise in alternative strategies. The Funds are distributed and serviced through a team of 22 wholesale professionals that work with more than 1,200 distribution platforms.

About Pyxis Funds

 Based in Dallas, Texas, Pyxis Capital is one of the premier providers of diverse and alternative fund strategies distributed through financial intermediaries. The Pyxis fund complex consists of a number of distinct registered investment companies including open-end "mutual" funds and a traditional closed-end fund, with a total of approximately $2.4 billion in retail assets under management.

Investors should consider the investment objectives, risks, charges and expenses of the Pyxis Capital Funds carefully before investing. Please call 1-877-665-1287 or visit www.pyxisais.com for more information on the Funds. Please read the prospectus carefully before you invest.

Securities may be offered through NexBank Securities, Inc., an affiliate of Pyxis Capital , L.P. NexBank Securities, Inc. is a FINRA member firm.