A new mutual fund is offering investors a chance to hone in on dividend income growth-under the management of a former Philadelphia Stock Exchange chairman.

The Rising Dividend Growth Fund has been launched by Eastern Point Advisors Inc., a subsidiary of Investors Capital Holdings. It will be managed by Thomas W.L. Cameron, who chaired the Philadelphia exchange from 1970 to 1974,

The new fund will focus on common stocks that have increased their dividends annually for a minimum of 10% per year for at least 10 years, according to Eastern Point Advisors. The fund is open to all investors for a minimum new account investment of $5,000, the firm says.

"We believe our philosophy is not only timely, but timeless," Cameron says in a statement. "Dividends reflect a management's outlook regarding its company's future. While earnings can be 'faked' for two to three years, dividends cannot. Either they are paid or they are not paid-they are a straightforward means of assessment and an indication of management's true confidence in its own future."

Cameron has a long history in focusing on dividend growth. During the 1960s, Cameron focused on dividend-paying securities as a core component of client portfolios as chairman of the brokerage firm Hopper Soliday, according to Eastern Point Advisors. He exhibited the same philosophy after buying The Sovereign Investors Fund in 1979 and managing it for 13 years, according to the firm.

"Tom has brought sensible, time-tested dividend growth strategies to investors for three decades," says Ted Charles, chairman and chief executive officer for Investors Capital Holdings.