New Summit Global Investments fund seeks lower volatility than S&P 500

By Toni Weeks

San Diego, Dec. 15 - RBB Fund, Inc. announced it has launched the Summit Global Investments U.S. Low Volatility Equity Fund, a new fund that seeks to outperform the S&P 500 index over a market cycle.

According to an N-1A filing with the Securities and Exchange Commission, the fund plans to invest at least 80% of its net assets, including borrowings for investment purposes, in equity securities consisting primarily of common stocks of U.S. companies. The fund's investment adviser, North Salt Lake, Utah-based Summit Global Investments, LLC, will select stocks so that the fund's portfolio exhibits less volatility than that of the S&P 500.

The portfolio will be managed by David Harden, president of Summit.

The fund will not impose a sales charge. A 1.5% fee will apply to redemption or exchanges of shares held less than 60 days.

Management fees paid to Summit will be 0.7%. Summit will waive fees as necessary in order to limit total fund operating expenses to 0.98% until March 1, 2013.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.