Northern Rivers Capital Management Inc. has launched two new mutual funds with a minimum entry level of $15,000, which will make them accessible to a wider range of clients than Northern Rivers’ previous offerings.
“With one exception, our fund offerings up to now have been pooled funds and limited partnerships, designed for sophisticated high net-worth investors,” said Robert Blakely, president of Northern Rivers. “These new products are mutual funds, which will help meet the demand we’re experiencing to make our funds easier to purchase and more accessible.”
The Northern Rivers Evolution Fund will be co-managed by two of the company’s top performing portfolio managers, Hugh Cleland and Alex Ruus, both of whom are also equity holders in the firm. The fund will pool the best ideas of both managers and will focus on mid- and large-cap stocks, primarily of North American companies.
The second new fund is a mutual fund re-launch of the Northern Rivers Conservative Growth Fund LP, which will be two years old in November. Alex Ruus’ outstanding returns have created considerable demand for a version of the fund that is RRSP eligible, available through investment dealers, and not subject to the accredited investor rules. The fund will be diversified by both capitalization range and economic sector, but will capitalize on Ruus’ specialized expertise in the energy and financial services sectors.
Both funds were launched on Aug. 27 and will be available to investors in all Canadian provinces except Quebec through investment advisors, discount brokers, fee-based brokers or directly through Northern Rivers.
Northern Rivers tagets wider range of clients with two new mutual funds
Both new mutual funds will be co-managed by two of the firm’s top performing portfolio managers
- By: IE Staff
- September 11, 2007 September 11, 2007
- 13:25