MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, December 10, 1999 Alps Outsources GE Money Fund Marketing General Electric Investment Corp.'s Financial Investors Trust Money Market Funds has hired Denver Capital Advisors, a money management firm, to market its funds to companies and institutions, Tamara Sletteland, co-founder of the Denver Colorado-based company, said today. Both founders of Denver Capital, Sletteland and Rod Chappel, left UMB Bank of Colorado in October to start this money management firm. "We're cutting out the middleman and making the high quality money market fund available directly to the institutional investor with exceptional service," Sletteland said. Money market funds normally charge eight to 40 basis points on 12b-1 fees; this fund will charge no fee adding up to a potential savings of $40,000 for some large companies. The fund will be available through the Internet for trading, in addition to an internal sub-accounting system that minimizes administration and accounting through a consolidated master statement. "The online trading access saves three or four steps that occur while using a broker," Sletteland said. "That is about five individuals." Sletteland says she plans to market the funds to corporations, foundations and municipalities. "We will look for a company that has gone public and try to tap a large asset base." To get the word out, Sletteland said the company will target potential clients through direct mail. "Joining the Chamber of Commerce is another idea we had, but we are not sure if it is the right route." Printed from: MFWire.com/story.asp?s=25269 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |