Saratoga Capital Management
has selected Integrity Mutual Funds
as the new investment advisor to its $13 million Saratoga Energy and Basic Materials Fund
, Integrity announced Wednesday.
The fund had been advised by Caterpillar Investment Management
since being brought onto the Saratoga platform in 2003, confirmed Saratoga founder and CEO Bruce Ventimiglia
. Its transition to Integrity took place on April 17.
Saratoga Advantage Trust, based in Garden City, New York, encompasses 12 subadvised funds, including four sector funds. The Energy and Basic Materials Fund, which is the first Saratoga fund to be subadvised by Integrity, will be managed by F. Martin Koenig
and Steven Breyer
from the Minot, North Dakota-based firm's New York headquarters.
Koenig and Breyer are already responsible for four of Integrity's proprietary equity funds. They manage these with a quantitative stock selection model that, said Ventimiglia, had strong appeal.
"We were very, very intrigued with the quantitative approach and the results," he told the MFWire
The Energy and Basic Materials Fund, along with Saratoga's other three sector funds, were acquired through a deal with Orbitex Management
over three years ago.
Stay ahead of the news ... Sign up for our email alerts now