Amidst the market downturn of the past few months, at least one new fund has disappeared completely. In January American Trust
filed with the SEC to liquidate its Energy Alternatives Fund
on February 26, less than a year after the fund's launch
Given the tough market environment (a falling general stock market combined with falling fossil fuel prices) the Energy Alternatives Fund launched it, industry insiders may not be surprised by its demise. (The fund even had almost $100,000 in the now-infamous Reserve Primary Fund
as of November 30, according to a regulatory filing.) According to Google Finance
, the fund held only $1.94 million when it liquidated on February 26, closing at only $10.11 per share (down 5.95 percent year to date) It charged 189 basis points and fell into the midcap growth Morningstar style box.
Lebanon, New Hampshire-based American Trust has removed the fund from its company website
, and the fund's own website
seems to have vanished.
Alt Energy Stocks
' Tom Konrad first reported
on the disappearance on Wednesday.
American Trust also runs the socially responsible Allegiance Fund
, which first launched in 1997 and screens out alcohol, gaming, pharmaceuticals and tobacco.
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