MutualFundWire.com: Bandon Hires a Distribution Executive
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Wednesday, November 28, 2012
Bandon Hires a Distribution Executive
Bandon Capital Management [profile] announced the addition of Terry Swenson to its senior management team as a managing principal, responsible for distribution and execution in certain intermediary channels, with particular focus on advisors.
And in addition to Swenson' hiring, Bandon is looking to add a few national salespeople to further bolster its distribution team.
The Portland, Oregon-based Bandon is a relatively new player in alternative mutual funds, having launched its first fund at the beginning of 2011. The Bandon Isolated Alpha Fixed Income fund holds just under $27 million, according to Morningstar.
Swenson spent more than ten years as a managing director with Van Kampen Investments, in charge of subadvisory and variable annuity strategy and distribution. According to Swenson's Linkedin page, he's coming to Bandon from the Financial Marketing Group, where he was head of sales and mutual fund strategy.
Bandon managing director Mike Miller told MFWire that the hiring was spurred by the fund's growth, which has given the firm new distribution opportunities. And he said that over the next few months Swenson will be looking to hire a few national salespeople to support the sales team.
"Terry's going to be looking for a few good people who recognize how dynamic the alternative mutual fund portion of the industry is, and how well we are positioned with our long/short debt products, given the state of the markets and of interest rates," said Miller.
Swenson will be based in Florida, said Miller, and the search for salespeople will be nationwide.
The press release is below.
Alternative Mutual Fund Firm Adds to Management Team
Senior Distribution Executive Terry Swenson Joins Bandon
PORTLAND, OR--(Marketwire - Nov 28, 2012) - Bandon Capital Management (NASDAQ: BANIX) today announced the addition of Terry Swenson to the senior management team. As Managing Principal, Mr. Swenson will be responsible for distribution strategy and execution in specific intermediary channels.
Mr. Swenson brings to Bandon extensive asset management distribution experience. Prior to joining Bandon, he spent over a decade as a Managing Director at Van Kampen/Morgan Stanley Investment Management heading up Variable Annuity and Sub-Advisory strategy and distribution. Mr. Swenson previously directed various product management and distribution functions at American General Corporation/VALIC.
Bandon's founder and CIO Bill Woodruff commented, "We operate in one of the most dynamic, fast growing and relevant portions of the investment industry. As we expand our organization it's critical we add industry leaders like Terry to help build on our clear vision of delivering investment strategies offering characteristics that are truly alternative in more accessible, convenient delivery vehicles."
Mr. Swenson added, "Bandon has a compelling vision for building institutional quality alternative mutual funds by leveraging experienced alternative managers. The Bandon Isolated Alpha Fixed Income Fund, a long-short debt strategy, is approaching its two year anniversary and is a timely strategy for investors as they face the challenge of generating returns from their fixed income allocations in this low interest rate environment."
"I'm thrilled to be here and look forward to further building the firm, the product platform and relationships with intermediaries."
About Bandon: Bandon Capital Management is a Portland, Oregon-based, private investment management firm founded to provide investment solutions to financial intermediaries that deliver non-correlated, absolute returns regardless of market direction. Bandon identifies institutional quality alternative strategies that can be implemented in democratized vehicle structures. Bandon is the manager of the Bandon Isolated Alpha Fixed Income Fund (NASDAQ: BANIX), a long-short fixed income mutual fund. Additional information about the company and its products can be found at www.bandonalts.com.
Printed from: MFWire.com/story.asp?s=42180
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