Vancouver-based Steadyhand Investment Funds announced Monday that its employees are largely eating the firm’s own cooking.
Steadyhand said that, on average, the level of co-investment among employees that have been with the no-load mutual fund company for over a year is 81%. In other words, the vast majority of their financial assets are in the firm’s own funds. In total, Steadyhand’s employees and their families have $21.3 million invested in its funds.
As for its sub-advisors, the company reports that the lead managers of its equity fund and small-cap equity fund have over 75% of their personal liquid assets invested in their model portfolios. The manager of its global equity fund doesn’t disclose his holdings.
“These figures illustrate a significant personal commitment to our approach and managers,” it says.
Apart from the firm’s own funds, it says that some employees are also invested with other managers “in support of friends and firms that we know well and respect”, and a few also have individual stock holdings. “By and large, however, the majority of our money is invested alongside our clients’ money and our interests are well aligned,” it says.