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Rating:A $200MM Fund Joins a New Family Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 22, 2012

A $200MM Fund Joins a New Family

Reported by Chris Cumming

The Ameristock Fund has been acquired by Drexel Hamilton Investment Partners and will be folded into the Drexel Hamilton Centre American Equity Fund, pending shareholder approval, according to an SEC filing.

The acquiring fund is managed by Drexel Hamilton and subadvised by Centre Asset Management, and it holds just over $24 million. So it will get a big AUM boost from its acquisition, which holds just under $200 million in AUM, according to Morningstar.

The Ameristock Fund was launched in 1995 and it is the only '40 Act strategy managed by Alameda, California-based Ameristock.

Drexel Hamilton did not respond to to MFWire's requests for comment, while an Ameristock representative said the firm had no comment.

Drexel Hamilton Investment Partners (not to be confused with the broker-dealer Drexel Hamilton ) is a New York City-based asset manager that also offers the $12.2 million Drexel Hamilton Centre Global Equity Fund and one hedge fund strategy in addition to the Centre American Equity Fund.

Both Drexel Hamilton and Ameristock are distributed by ALPS Distributors.

The filing states that the Ameristock board decided to reorganize the fund into Drexel Hamilton on September 19, and the shareholder meeting to vote on the change will be held on December 12. 

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