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Rating:One Year Into a $6.5B Empire State Shop's Mutual Fund Journey Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, April 13, 2017

One Year Into a $6.5B Empire State Shop's Mutual Fund Journey

News summary by MFWire's editors

After a little over a year in the mutual funds space, Miller/Howard Investments’ two funds have more than $90 million combined.

Michael Roomberg
Miller/Howard Investments
Portfolio Manager / Analyst
The 33-year-old Woodstock, New York based firm, founded by chief investment officer Lowell Miller, specializes in dividend growth, energy, ESG investing and utilities. It made its first entry into the mutual fund market last year with two new funds: the Miller/Howard Drill Bit to Burner Tip Fund and the Miller/Howard Income-Equity Fund.

The funds are distributed by the firm’s 15-member sales team, which targets wirehouses, RIAs, family offices, and regional broker networks. Foreside Funds serves as the distributor.

The Drill Bit to Burner Tip Fund was introduced as a fund because of demand from clients; says it mimics the boutique’s separately managed accounts version of the strategy started in 2011. Miller and Michael Roomberg are the lead PMs for the fund.

“A lot of our existing clients were asking for this because they can’t allocate our strategy to some of their smaller accounts,” Miller/Howard Sales Director Steve Chun tells MFWire. “This way it’ll plug us into their investment solution set, even for smaller accounts.”

The fund’s strategy is to invest along all the phases of the North American energy value chain, from exploration and production companies to energy consumers like utility companies.

So, when commodity prices fluctuate, the fund can change allocations to invest more in whichever stage is benefitting, Chun explains.  

Edited by: Tanvi Acharya


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