CHARLOTTE, N.C.--(BUSINESS WIRE)--Motivated by plan sponsor and consultant requests, WEDGE Capital Management has launched a collective investment trust (CIT) for its Mid Cap Value strategy. The CIT is open for investment by any qualified defined contribution or defined benefit retirement plan. The investment portfolio is identical to the firm’s Mid Cap Value strategy, which currently has $2.9 billion in assets under management, and has been offered exclusively through a separate account vehicle since October 1995.
To meet growing institutional demand, the WEDGE Mid Cap Value Fund provides an additional option for clients to invest in the strategy. Defined contribution plans, particularly those that invest in retail mutual funds, are gravitating toward the pricing advantages of a daily-valued collective trust fund while allowing for open architecture manager structure.
Compared to a separately managed account, the CIT’s lower minimum initial investment brings the administrative convenience and the firm’s economies of scale to a broader range of potential institutional investors. Under the CIT structure, the plan sponsor also receives an added layer of protection since the bank trust company serves as a plan fiduciary in addition to the investment manager.
About WEDGE Capital Management
Founded in 1984, WEDGE Capital Management, L.L.P. is an independently-owned investment management firm serving over 250 clients and managing $11 billion in total assets. The firm offers clients a combination of traditional and quantitative equity strategies, as well as investment-grade fixed income solutions. With a team of 28 investment professionals and 47 total employees, WEDGE Capital Management focuses on disciplined value investing by implementing rigorous investment research and unwavering client service. For more information, please visit www.wedgecapital.com.