An infant Pennsylvania fund firm has launched a new open-end mutual fund to invest in foreign securities.

Cheswold Lane Asset Management of West Conshohocken, founded in February, officially rolled out the Cheswold Lane International High Dividend Fund with an announcement on Monday.

Veteran portfolio manager partners Eric F. Scharpf and Matthew H. Taylor will guide the new offering, having worked together already with Chartwell Investment Partners and Miller Anderson & Sherrerd. According to the fund's prospectus filed June 21 with the SEC, it will invest at least 80 percent of its net assets in dividend-paying stocks of companies located in foreign developed markets.

UMB serves as the fund's distributor, administrator, transfer agent, fund accountant and custodian.

 

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