CHICAGO--(BUSINESS WIRE)--RMB Capital (“RMB”), an independent financial services firm with more than $5.2 billion in assets under management, announced that the Board of Trustees for the Burnham Funds (the “Funds”) voted unanimously to appoint RMB as the interim investment adviser, effective July 1, 2016. Shareholders will vote on this change at a meeting to be held on September 15, 2016. The Funds are now known collectively as the RMB Funds; the investment objectives of the Funds and the fees paid by shareholders remain unchanged.
The Funds are comprised of three distinct equity strategies:
- RMB Fund (RMBHX), rated ★★ by Morningstar© (OVERALL rating, out of 1,483 funds in the Large Growth category as of 6/30/16), is a general investment fund with a diverse portfolio of large-cap stocks. The fund seeks long-term capital appreciation with income production as a secondary goal. RMB seeks to invest the fund’s portfolio in companies with one or more of the following characteristics: sustainable operating and earnings growth, focus on enhancing shareholder value, reasonable valuations, and capable, committed management teams. The fund’s portfolio manager is Todd Griesbach, CFA. Griesbach joined RMB in 2011, has nearly 20 years of industry experience, and is a CFA® charterholder.
- RMB Mendon Financial Services Fund (RMBKX), rated ★★★★★ by Morningstar© (OVERALL rating, out of 284 funds in the Financial category as of 6/30/16), is a specialty fund that seeks capital appreciation out of lesser-known opportunities, primarily among small-cap financial services institutions, aiming to benefit from consolidation in the financial sector. The fund is sub-advised by Mendon Capital Advisors Corp. (“Mendon”), whose president and chief investment officer, Anton Schutz, continues to serve as portfolio manager, as he has since the fund’s inception. Schutz looks to identify companies that are not widely followed, generate strong cash flow, and have assets that are not reflected in current stock prices.
- RMB Mendon Financial Long/Short Fund (RMBFX), rated ★★★★★ by Morningstar © (OVERALL rating, out of 263 funds in the Equity Long-Short category as of 6/30/16), is a long/short fund that seeks capital appreciation by investing in companies of any market capitalization within the financial services sector. The fund is also sub-advised by Mendon and Schutz has served as the fund’s portfolio manager since inception. The various factors influencing Schutz’s investment decisions include: capable management teams; attractive business niches; sound financial and accounting practices; and sustainable earnings, revenue, and cash flow growth. Schutz also looks to identify companies that are undervalued, temporarily distressed, or poised for a merger or acquisition. The fund may short up to 25% of its net assets, and may use futures, options, and derivatives to hedge positions.
“Expanding into the mutual fund business is something we’ve contemplated for some time, and this was a great opportunity for us to do so,” said Dick Burridge, CEO and chief investment officer of RMB Capital. “Our existing relationship with Anton and Mendon – related to other products he manages for RMB and the operational support we’ve provided for the mutual funds – made us a natural fit. With RMB Funds, we broaden our reach in terms of the types of investors we can accommodate and also gain more flexibility as we think about developing new investment products.”
For more information about RMB Funds, including prospectuses, fact sheets, daily pricing, and historical performance, please visit RMBFunds.com.
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ABOUT RMB CAPITAL
RMB Capital is an independent, diversified financial services firm. Its businesses include wealth management, asset management, and retirement plan consulting. RMB is headquartered in Chicago with offices in Denver, Jackson Hole, Wyo., and Washington, D.C., as well as several satellite locations. To learn more about RMB Capital, visit www.rmbcap.com.