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Rating:Burnham Taps Subadvisor for Financials Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, May 03, 2004

Burnham Taps Subadvisor for Financials Fund

by: Theresa Sim

Burnham Investors Trust added a second financial services fund to its lineup as of Saturday. The new fund will be managed by Anton Schutz, head of subadvisory firm Mendon Capital. Delaware-based Mendon Capital has also subadvised the Burnham Financial Services Fund since 1999.

The two financial services funds are Burnham's only subadvised funds. Burnham and Schutz worked together to develop the new fund, said Debra B. Hyman, spokeswoman for Burnham.

The Financial Industries Fund will hold investments in medium to large financial services companies. The company's other financial services fund, the Financial Services Fund, invests in financial services companies with market capitalizations under $8 billion. The Financial Services Fund, with $325 million under management, closed to new investors on February 13, 2004.

The fund will be distributed through Burnham Securities Inc. and other broker dealers.

Burnham Investors Trust managed $4 billion in assets as of March 31, 2004.

"I believe that there continues to be much opportunity to make money in these sectors. Over forty thousand financial services companies remain in the United States, making it one of the most fragmented industries and markets in the world and subject to continued consolidation. The size of the industry alone creates investing and trading opportunities; these companies have different approaches to taking or managing risk, for better or for worse, to set themselves apart from the rest of the pack" said Schutz. 

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