MutualFundWire.com: Two Fund Sponsors Sniff for Deals

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Wednesday, October 14, 2009

Two Fund Sponsors Sniff for Deals

Leader Capital and Rhoads Lucca Capital Management, whose funds are part of Northern Lights Fund Trust, are looking for funds to acquire.

John Lekas
Leader Capital
Principal

Portland, Oregon-based Leader Capital, which advises the Leader Short-Term Bond Fund, is scouting for a total return bond fund, said John Lekas, principal and portfolio manager. Leader is also looking for funds to roll into its existing offering. The short-term fund currently has $250 million of assets and is on track to hit $500 million by yearend, according to Lekas.

"We're able to support acquisitions at this time," Lekas told The MFWire. "With our size, we can inhale a $50 million fund, a $500 million fund or a billion dollar fund."

The acquisition of a total return bond fund "would balance the business out," Lekas added.

Meanwhile, Dallas-based Rhoads Lucca, which runs the Autopilot Managed Growth Fund, is looking for a long-short fund, according to Andrew Rogers, president of Gemini Fund Services, which administers the Northern Lights Fund Trust. Peter Mauthe, president of Rhoads Lucca, was not immediately able to provide further comment on his firm's acquisition strategy.

The Northern Lights Fund Trust represents 37 mutual funds with assets totaling nearly $2 billion. According to Rogers, 10 more funds are currently in registration.

Printed from: MFWire.com/story.asp?s=22941

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