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Products July 1, 2008
Turner Introduces Broad Market Equity Fund
The Turner Funds introduced the Turner Quantitative Broad Market Equity Fund, a no-load mutual fund that uses its proprietary quantitative model to determine stock selection.
Reported by Rebecca Moore
The new fund invests in companies across the U.S. stock market with capitalizations typically greater than $700 million. Its sector weightings are similar to those of the Russell 3000 Index, its performance benchmark, according to a press release.
The fund uses Turner’s proprietary quantitative computer model to evaluate more than 70 factors related to a company’s stock and fundamentals that it believes predict future outperformance. Stocks are then ranked by those characteristics and selected for a diversified portfolio of 80 to 130 securities.
The release said the fund is managed by David Kovacs, lead portfolio manager and CIO, quantitative strategies. Kovacs is supported by Jennifer K. Clark, co-manager.
The Turner Quantitative Broad Market Equity Fund is available through either investor or institutional share classes. The minimum initial investment in Investor Class shares is $2,500, and the minimum initial investment for Institutional Class shares is $250,000.
Investors may invest in the Turner Quantitative Broad Market Equity Fund effective today directly through the Turner Funds, through Turner’s Distribution Team that does business with investment consultants and defined contribution plan sponsors, and through financial intermediaries who have a relationship with the Turner Funds. The Turner Funds are distributed by SEI Investments Distribution Co.