Sincere & Co., a mutual fund marketing and distribution company
serving independent advisors, has launched a mutual fund of its own.
The company, based
in Holliston, Mass., has launched a small cap value fund, the first in
what it says will be a series of funds comprising the Sincere Advisor
Funds family.
The small cap fund
will be sub-advised by the management team that runs the James Small
Cap fund-a value fund that is distributed by Sincere & Co.
Sincere funds will
be available only through advisors and are structured to meet the
specific needs of fee-based independent advisors, says Richard D.
Sincere, chairman and CEO of the company.
The expense ratio
of the fund is capped at 1.10, Sincere says, and carries a transaction
fee and an omnibus account minimum investment of $1 million.
Sincere feels the
capped expense ratio and the management of James Financial Research
Inc. should be key selling points in marketing the fund to advisors.
The fund has
launched with an initial investment of $400,000-with $300,000 from Sincere
and $100,000 from the James family, he says.
Sincere says he would look to close
the fund to new investors at an asset level of $600 million. He would
also like to see the Sincere fund family expand to 10 funds over the
next three years.
The fund is
currently available to advisors through TD Ameritrade and will shortly
expand to other fund-trading platforms, Sincere said.