There's a new mutual fund group in town. The Small Funds Network (SFN), which seeks to bring together fund companies with AUM of less than a billion dollars, was born last December and now counts 10 members and another 10 that have committed to sign on, according to spokesperson for the group.

Organizers aim to have 50 members, coming from both the mutual fund and vendor communities, by yearend.

"We're not doing anything that other groups aren't doing," the spokesperson noted. But what sets SFN apart is that "our content is designed for small funds and is actionable for them."

The annual membership fee is $1,000 for fund companies and $1,500 for vendors.

SFN has reached out to about 150 fund firms with AUM of under $1 billion, and "majority of responses came from firms with AUM in the $400 million-$800 million range," according to the spokesperson.

So far, SFN hosted four Webinars focusing on topics such as how to grow distribution, initiate a marketing plan and get noticed by the media. SFN plans to host two more Webinars this year.

In addition, SFN will host three conference calls, the first of which is slated for May 13. In that call, members will discusss issues they face, shaping the topics that will be covered in future Webinars. 

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