Aeltus Launches Technology Fund.Business Editors HARTFORD, Conn.--(BUSINESS WIRE)--March 1, 2000 Aeltus Investment Management Inc., advisor to the Aetna Funds, today announced the launch of the Aetna Technology Fund, to be offered through investment professionals. Elijah Asset Management of San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden (EAM (1) (Enterprise Asset Management) The management and control of the information technology assets within the enterprise. The asset management repository includes a description of the asset as well as contract information pertaining to its acquisition. ), a leading manager of specialized growth and technology portfolios, is the sub-advisor for the funds. The Aetna Technology Fund is the first technology fund offered by Aeltus. The fund focuses primarily on large and medium capitalization companies that are market leaders. "We employ a fundamental analysis investment style to selecting companies and maintaining them in the fund," said Ronald Elijah, Chief Executive Officer of Elijah Asset Management. "The Aetna Technology Fund will generally consist of 35-40 companies at any one time, allowing us to continually evaluate the growth potential of each company." The investment team at EAM totals more than 60 years of investment experience, with more than 24 years of experience in technology investing. In addition, the firm's San Francisco office is in close proximity to many of the top technology companies in which the fund invests. The launch of the Aetna Technology Fund follows Aeltus' acquisition of a minority equity interest in EAM in December, 1999, and is the first Aetna Fund to be sub-advised by EAM. "We're excited about providing our customers with a more focused approach to the growth potential of the technology sector, which already comprises 30% of the S&P 500 by market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. ," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. John Kim, Aeltus CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and head of domestic operations for Aetna Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . "EAM's sector-specific investment approach is an ideal complement to our other more broad-based Aetna fund offerings, providing the investor with a wide range of choice." The Aetna Technology Fund is offered as a retail mutual fund through brokerage firms that are authorized to sell the Aetna Funds. With $1.30 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , EAM is a fundamentally driven investment manager, best known for its work in technology investing. The firm employs 15 people, including 10 investment professionals. Aeltus, which manages institutional assets and is the investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and to the Aetna Funds, is an independently managed subsidiary of Aetna Inc., with more than $55 billion in assets under management. Aetna Mutual Funds are distributed by Aeltus Capital, Inc. For a prospectus containing more complete information including sales charges and expenses, write to Aetna Mutual Funds, 10 State House Square, Hartford, Connecticut “Hartford” redirects here. For other uses, see Hartford (disambiguation). Hartford is the capital of the State of Connecticut. It is located in Hartford County on the Connecticut River, north of the center of the state. 06103. Read the prospectus carefully before you invest or send money. Visit our Web site at http//:www.aetnafunds.com. The principal risks of investing in the Fund are those generally attributed to stock investing. Stocks of smaller companies tend to be less liquid, more volatile and sensitive to expected changes in interest rates. Because the Fund's investments are concentrated in information technology industries, the value of its shares will be especially affected by factors peculiar to those industries and may fluctuate more widely than the value of shares of more diversified portfolios. |
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