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 |
|
Thursday, May 30, 2013 Mutual Fund or Not Mutual Fund? That is the Question Mark Oldham is in a good place, but with a number of challenges that all fundsters can related to. His company, Mainstay Financial Services, runs a series of very successful real estate Reg. D Private Placement funds, dubbed the Mainstay Financial Services Mortgage Fund, that currently offers investors a guaranteed 9 percent return. However, Oldham, who is Mainstay's vice president of business development, has to sell this product on a one-by-one basis. He and his colleagues want to change the legal format of the product into, perhaps, a mutual fund, so they can more broadly market the product to RIAs. "The challenge is to find a structure where we can reach a broader audience like the RIA community. Most platforms will not look at a private placement Reg. D. They would not be able to offer this kind of product to their clients," he told MFWire. Oldham admitted that neither he or his colleagues are experts in mutual funds -- they don't pretend to be. They are looking for experts, be it lawyers, services, administrators, fund firms, etc. who can help his company make the transition into the '40 Act space. Fundsters take note. Printed from: MFWire.com/story.asp?s=44029 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |