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 |
|
Thursday, August 8, 2024 A Multi-Boutique Teams Up With a 44-Year-Old Institutional AM The folks at a 6-year-old multiboutique in Illinois are teaming up with those at a 44-year-old, $4.95-billion-AUM (as of June 30), institutional asset manager in Missouri. The two firms recently rolled out a new open-end mutual fund focused on stocks.
The Kennedy MicroCap Fund's inception date was June 10. By July 31, the new fund had $10.84 million in AUM. The new equity fund comes in two flavors: A shares (NKAAX) with an upfront load of up to 575 basis points, plus an expense ratio of 172bps; and I shares (NKMCX) with an expense ratio of 147bps. Both expense ratios bake in a 21bps fee waiver promised through September 30, 2025. Chicago-based North Square will serve as the new fund's investment advisor, while St. Louis-based Kennedy will serve as the fund's subadvisor. Sean McMahon, a portfolio manager at Kennedy, will PM the new fund. Goodwin notes that the Kennedy team, "utilizing a disciplined and consistent investment process, ... has been focused on generating returns in the micro, small, and mid-cap domestic equity markets for their clients for over 40 years." He lauds the Kennedy team's "specific expertise and experience in this specific segment of the equity market." "We are delighted to launch the North Square Kennedy MicroCap Fund, an important step in building out our diversified retail suite of specialized institutional-quality portfolios, a priority for our clients and the marketplace," Goodwin states. Cobin adds that he, too, is "extremely pleased" about the Kennedy - North Square partnership. "Led by Chief Investment Officer and Director of Research, our firm utilizes a detail-oriented, bottom-up proprietary research process driven by a team of more than a dozen sector-specific analysts," Cobin states. "We believe this level of specialization provides a competitive advantage allowing us to regularly capitalize on overlooked opportunities. Small cap inefficiencies can be amplified within micro caps, offering strong opportunities for value creation." The new fund's other service providers include: Blank Rome LLP as counsel; Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Financial Group, LLC as distributor and principal underwriter; Ultimus Fund Soltuions as administrator, fund accountant, and transfer agent; and U.S. Bank, N.A. as custodian. Printed from: MFWire.com/story.asp?s=67760 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
