There's a new player in the mutual fund business. North Hampton, New Hampshire-based Seascape Capital Management has rolled out is first mutual fund.

The no-load Seascape Focus Growth Fund was made available available to retail investors starting August 1. The fund is marketed mainly to fee-based advisors by Hingham, Massachusetts-based Endeavour Investment Partners LLC.

Jim McCarthy Seascape Capital Management Founder and Lead Portfolio Manager

The fund is run by James W. McCarthy, lead portfolio manager and founder of Seascape, and Monica A. Ness, co-portfolio manager, each bringing 20 years of investment experience to the fund.

"We wanted to make the strategies that have been so successful for us in SMAs, available to fund investors," McCarthy told The MFWire.

The fund utilizes a “bottom-up” approach, focusing primarily on individual securities, without regard to sector weighting or economic outlook.

Monica Ness Seascape Capital Management Co-portfolio manager

"We wanted to make the all-cap growth model that has done so well in our SMAs available in a mutual fund for investors who may not have the minimum amount to open an SMA," Ness said.

According to McCarthy and Ness, there are no immediate plans at the moment to launch another mutual fund.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE