Main Management Launches One of First Portfolios Based ...
Main Management Launches One of First Portfolios Based Exclusively on
Exchange-Traded Funds
SAN FRANCISCO-- (BUSINESS WIRE)--Jan. 7, 2004--Main Management LLC, a San Francisco-based investment firm, today announced the national launch of one of the first managed portfolios based exclusively on exchange-traded funds (ETFs). Using ETFs rather than selecting individual stocks, Main has pioneered a new approach to outperforming the S&P with lower risks and lower costs than traditional money management models. Main was established in 2002 by Jim Concidine, former Montgomery Securities partner and current CIO of a large San Francisco family office, R. Stephen Doyle, the founder of Montgomery Asset Management and Richard Fredericks, former partner from Montgomery Securities and U.S. Ambassador to Switzerland, to serve high net worth investors, family offices and foundations. The firm currently has $100 million in assets under management and outperformed the S&P 500 index by 300 basis points in its first full calendar year. "Main Management was designed with the client's interest first and foremost. We have a product that is efficient with low fees, low turnover and a focus on long term capital gains which appeals to wealthy individuals," said Jim Concidine, managing partner and co-founder of Main Management, LLC.
"Our process, which has been tested over the last 17 months, is designed to overcome the obstacles inherent in traditional money management models," said Stephen Doyle, managing partner and co-founder of Main Management, LLC.
ETFs are portfolios of stocks based on an index or industry sector, that trade like stocks and offer several advantages over traditional mutual funds, including lower costs, tax efficiency and transparency. Despite the bear market, ETF assets have increased from $40 billion to $155 billion since the peak in the NASDAQ in March 2000.
"As value-oriented investors, investing in target sectors, we're not looking for the needle in the haystack -- we're looking for the right haystacks," said Richard Fredericks, managing partner, Main Management, LLC. "We apply fundamental research and the 'reversion to the mean' principle to determine out-of-favor sectors and countries with strong catalysts for growth."
About Main Management LLC
Headquartered in San Francisco, Main Management was established in
August 2002. The firm has $100 million in assets under management, with
investments in Japan and the pharmaceuticals, wireless, and software
sectors. For more information about the fund, please visit:
. Or contact Main Management,
LLC at 415-217-5800.
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