The Vice Fund
's manager just re-branded and hired a new president. Eric Lansky
confirmed that he recently joined the firm, which switched to USA Mutuals
in December. Watch for Lansky, who hails from Reserve
(see MFWire, 11/24/2008
), to bring more funds into the USA Mutuals (i.e. Mutual Advisors
Lansky confirmed that he succeeded Laurie Roberts
, who left the firm.
"We're interested in expanding by adopting other niche funds," Lansky told MFWire
, pointing in particular to SMA-focused RIAs "who have mutual funds but don't want to be in the mutual fund business themselves."
Lansky's goal is to help those RIAs "focus on managing the portfolio."
"Let us handle marketing and distribution," Lansky said, adding the USA Mutuals outsources administration to US Bank and Quasar.
USA Mutuals also already offers the Generation Wave Fund
, a fund of ETFs focused on sectors where baby boomers spend money.
As part of the re-positioning, USA Mutuals launched a new website and a "more aggressive online campaign" using banner ads and Google text ads. It's all built around reaching investors directly (though USA Mutuals does work with advisors, too).
"There's a level of mistrust between Main Street and Wall Street," Lansky said. "Shareholders get our funds."
Watch for Lansky, who previously led Reserve's Reserve Solutions unit, to find more niche, "logical fund offerings" for its menu to fit with its "Invest Your Knowledge" focus.
Stay ahead of the news ... Sign up for our email alerts now