Fresh on the heels of the
Monument Funds Group's announcement of a three-for-one share split in its
Internet Fund, the Bethesda-based fund company is launching a new sector fund, the
Monument Telecommunications Fund.
The company believes that its latest fund is poised to take advantage of advances in broadband technology in the upcoming years.
"Right now, three separate access vehicles -- cable, phone and wireless -- are vying for dominance," said
J. Michael Gallipo, 30, portfolio manager for the fund and a recent hire, joining Monument in August 1999 from
Van Eck Global.
"The convergence of voice and data networks will (also) become increasingly important in the telecommunications industry, generating some great investment opportunities," added Gallipo.
The new fund will have an expense ratio of 1.9% for the A shares and 2.4% for the B shares.
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