3 Embarcadero Center |
San Francisco, CA 94111
Main Phone: 415-981-9742
Mutual Fund Brand(s)
SEC Fund Filings by CIK
Founded as the Van Wagoner Funds in 1995 by Garrett Van Wagoner. The funds developed a reputation as aggressive investors in technology stocks during the 1990s dotcom boom. In 2008 the funds rebranded as the Embarcadero Funds.
On August 26, 2004 Van Wagoner Capital settled civil fraud charges brought by the Securities and Exchange Commission (SEC) over a claim that the fund had mistated the value of illiquid securities in its five of its mutual funds from June 1999 to June 2001.
Van Wagoner neither admitted nor denied the charges in settling them, but it did agree to pay an $800,000 penalty. The settlement also imposed a seven-year prohibition on Van Wagoner from serving as an officer or director of a mutual fund, and a seven-year restriction on certain of Van Wagoner's activities with the investment adviser.1
The SEC entered into separate settlements with two Van Wagoner investment professionals: Robert Colman and Audrey L. Buchner.
In 2008 the board rebranded the five mutual funds as the Embarcadero Funds family. At that time the funds tapped Husic Capital Management as a subadvisor.
Small-Cap Growth Fund became the All-Cap Growth Fund
Emerging Growth Fund became the Small-Cap Growth Fund
Mid-Cap Growth Fund became the Alternative Strategies Fund
Post-Venture Fund became the Absolute Return Fund
Technology Fund became the Market Neutral Fund
Five into Two
In 2010 the funds were reorganized with the funds taking on subadvisors to manage the portfolios and the lineup being trimmed from five funds to two.
The Absolute Return Fund merged into Small-Cap Growth Fund and was renamed Absolute Return Fund.
Meanwhile, Alternative Strategies Fund and the Market Neutral Fund each merged into All-Cap Growth Fund which was renamed Market Neutral Fund.
On July 19, 2010 the funds' board informed shareholders that they were exploring alternatives for the funds, including the possibility of liquidating the funds if a new advisor could not be found. As part of this process they asked shareholders to merge the two remaining funds into a multi-cap growth fund advised by an investment adviser other than Van Wagoner.
1SEC Press Release, August 26, 2004
|Garrett Van Wagoner|
formerly President, formerly Van Wagoner Capital Management
Director, Institutional Sales, Van Wagoner Funds