A four-star, five-year-old low volatility equity mutual fund just shut down.

Terry Lee Lee Financial Group Hawaii President and Chief Executive Officer

Lee Financial Group Hawaii [profile] confirms via a filing with the SEC that on September 29 it liquidated the Lee Financial Tactical Fund (LOVIX), the younger of the Lee Financial Group's two mutual funds.

Terry Lee, president and CEO of Honolulu-based Lee Financial Group, did not respond to requests for comment.

The tactical fund, which had about $46.05 million (Google Finance estimates) in AUM, first launched on June 10, 2011 as the First Pacific Low Volatility Fund. The First Pacific mutual funds rebranded as the Lee Financial mutual funds on October 1, 2014, and the low volatility fund rebranded accordingly.

Lee Financial Group also continues to offer its three-star, 28-year-old, $174.2-million Hawaii Municipal Fund. As Lee Financial Group's most recent form ADV filed on September 30, 2016, the firm has about $321 million in AUM. 

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