BERWYN, Pa--(BUSINESS WIRE)--John P. Fraunces, Jr. has been named Co-Portfolio Manager of Turner Investments, L.P. Global Medical Sciences strategies, bolstering the firm’s healthcare sector investment team. Mr. Fraunces joins Michael Tung, MD, in managing Turner’s Medical Sciences Long/Short Fund, which was launched in February 2011.
“John’s strong technical background in healthcare, combined with the effective risk-management discipline he has demonstrated throughout his professional career, will complement the great research and stock selection capabilities of Turner’s healthcare team,” said Stephen J. Negrotti, President and CEO of Turner Investments, L.P.
As of February 28, 2015, TMSEX (Institutional Share Class) and TMSFX (Investor Share Class) enjoy a Five-star Morningstar Ranking overall out of 186 funds and a Five-star ranking for the three-year period out of 119 funds in the Market Neutral category. The Fund is in the first percentile of its Morningstar category peer group for the 1- and 3-year periods out of 177 and 119 funds respectively.1
Prior to joining Turner Investments, L.P. earlier this year, Mr. Fraunces was the managing member and portfolio manager for Synaptic Capital Group. Previously, he held portfolio management/analyst positions with Solaris Asset Management LLC; Gardner Lewis Asset Management; Vector Securities International and PaineWebber, Incorporated.
Mr. Fraunces earned his MBA at Lehigh University and has a bachelor’s degree in chemistry from University of Scranton.
Turner Investments, L.P. is a Berwyn, PA- based, growth –equity investment manager founded in March 2009.
The investor should consider the investment objectives, risks, charges and expenses carefully before investing. This information can be found in the prospectus. A free summary or statutory prospectus, which contains detailed information, including fees and expenses, and the risks associated with investing in this fund, can be obtained by calling 800.224.6312 or by visiting www.turnerinvestments.com. Read the prospectus carefully before investing. Past performance is no guarantee of future results.
As with all investments, there are associated inherent risks. The Fund’s use of short sales, option strategies, and leverage may result in significant capital loss. There can be no assurance that the fund will be successful in limiting volatility. The Turner Funds are distributed by Foreside Fund Services, LLC, Portland, ME.
1 The Morningstar Rating™ for funds methodology rates funds based on an enhanced Morningstar Risk-Adjusted Return measure, which also accounts for the effects of all sales charges, loads, or redemption fees. Funds are ranked by their Morningstar Risk-Adjusted Return scores and stars are assigned using the following scale: 1-star = bottom 10%; 2-stars = Next 22.5%; 3-stars = middle 35%; 4-stars penultimate 22.5%; 5-stars = top 10% of funds in the category. TMSEX/TMSFX are categorized by Morningstar as US OE Market Neutral. A high rating or ranking does not assure favorable performance. The Fund experienced negative performance during some of the time periods shown. Some of the Fund’s fees and expenses were waived during the period. Absent such waivers, results may have been materially affected.