he San Francisco investment bank Hambrecht & Quist
has just launched its first mutual fund, the H&Q IPO & Emerging Company Fund
. The company's first fund intends to invest at least 65 percent of its assets in companies either at the time of their IPO or within 18 months after the offering.
The fund will be subadvised by Symphony Asset Management
, a San Francisco-based investment management firm with $2.7 billion in assets under management, managed by Ross Sakamoto
. The fund's shares will be made available to investors via a five-week subscription period directly from H&Q or through Charles Schwab
. Hambrecht & Quist says that it will consider closing to new purchasers when its assets exceed $300 million.
"For several years, H&Q has brought IPO investing opportunities to the market," said Jeff Lyons
, senior vice president of mutual fund marketing, Charles Schwab. "With the introduction of the H&Q IPO & Emerging Company Fund, H&Q has taken a new step, offering access to IPOs with the added benefits of professional management and diversification. We are pleased to be making this new Fund available to Schwab customers."
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