Alert: Bob Kern agrees to join Fremont Investment Advisors and continue as portfolio manager of the Fremont U.S. Micro-Cap Fund.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 , Calif.--(BUSINESS WIRE)--April 23, 1997--Fremont Investment Advisors 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 , Inc. announced today that Robert E. Kern Kern, river, 155 mi (249 km) long, rising in the S Sierra Nevada Mts., E Calif., and flowing south, then southwest to a reservoir in the extreme southern part of the San Joaquin valley. The river has Isabella Dam as its chief facility. , portfolio manager for the Fremont U.S. Micro-Cap Micro-cap Micro cap refers to a company with a market capitalization of between $50 million to $300 million. Notes: A micro cap stock isn't the smallest classification (nano-cap is even smaller), but it is getting pretty small. Fund has agreed to join the Fremont organization and will continue as the portfolio manager of the Fremont U.S. Micro-Cap Fund. Kern has been the Micro-Cap Fund's portfolio manager since that Fund's inception, working through a sub-advisory arrangement between Fremont and Morgan Morgan, American family of financiers and philanthropists. Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. Grenfell. When Fremont learned that Kern had resigned from Morgan Grenfell, Fremont asked Kern to stay on as portfolio manager of its U.S. Micro-Cap Fund and agreed to set up a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of office to accommodate Kern. Kern has agreed to become associated immediately with Fremont. As a portfolio manager of Fremont Investment Advisors, Kern will continue to be responsible for the day-to-day management of the Fremont U.S. Micro-Cap Fund. Fremont Investment Advisors is taking steps to ensure that Kern has adequate research, trading and support staff to continue to provide effective continuous portfolio management for the Fund. Fremont Investment Advisors has terminated its sub-advisory relationship with Morgan Grenfell. As of today, management of the Fremont U.S. Micro-Cap Fund will be handled directly by Fremont Investment Advisors in association with Kern. Kern has advised Fremont Investment Advisors and the Directors of the Fremont Mutual Funds that he intends to form his own independent asset management company and hopes, through his new firm, to continue to be the portfolio manager for the Fremont U.S. Micro-Cap Fund. Kern is in discussions concerning his own advisory firm with both Fremont Investment Advisors and Holland & Co., Ltd. If Kern does form his own independent advisory firm, Fremont Investment Advisors and the Board of Directors of the Fremont Mutual Funds are expected to favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. consider a new sub-advisory agreement for the Fremont U.S. Micro-Cap Fund with Kern's new advisory firm. Any such proposed arrangement would be subject to approval by the shareholders of the Fremont U.S. Micro-Cap Fund. Fremont Investment Advisors and the Board of Directors of the Fremont Mutual Funds are pleased that they have been able to ensure Kern's continued services as a portfolio manager to the Fremont U.S. Micro-Cap Fund. CONTACT: Fremont Mutual Funds Michael Kosich, 415/284-8950 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion