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Mequon's Convergence Investment Partners Launches Second Mutual Fund

Dec. 17, 2013

Convergence Investment Partners, a quantitative equity manager that develops strategies with a goal of exploiting market inefficiencies, today announced that it has launched a new mutual fund, the Convergence Opportunities Fund, which focuses on investing in small- to mid-cap stocks.

The fund is the second mutual fund offered by Convergence Investment Partners. The firm’s other fund, the Convergence Core Plus Fund, is rated 5-Stars by Morningstar in the Large Blend category versus 1,372 funds (as of September 30, 2013). The Overall Morningstar RatingTM for the fund is derived from a weighted average of the fund’s three-, five- and ten-year risk-adjusted return measure, if applicable.*

Driven by Convergence’s quantitative approach, the Convergence Opportunities Fund mirrors the strategy, approach and process of the Core Plus Fund and seeks to generate returns for investors by identifying not only value, but also what the market is valuing. By incorporating the ability to short, the fund strives to provide additional alpha above similar long-only strategies.

“We have been managing this strategy as a separate account for some time now, and we are very excited for the launch of this mutual fund,” said David W. Schulz, CFA, president of Convergence Investment Partners. “In this format, we are able to open our strategy up to a much wider range of investors. I believe this fund is unique in the small- to mid-cap space, and I look forward to introducing it to the advisors and investors we work with.”

According to Convergence’s chief investment officer, David J. Abitz, CFA, “At Convergence, we strive to identify not only top performing stocks, but also attributes the current market is either rewarding or punishing. I am very excited to bring this approach to the small- to mid-cap space, as I believe there are many opportunities to generate excess returns for investors over time.”

Convergence’s partners – David Schulz, David Abitz, Jonathan Franklin and Todd Hanson – average nearly two decades of experience managing similar quantitative investment strategies. The new fund will complement Convergence’s existing lineup, which includes several separate accounts in addition to the Convergence Core Plus Fund.

The fund was launched in collaboration with Montage Investments, Convergence Investment Partner’s parent company. According to Gary P. Henson, CFA, CFP®, president and chief investment officer of Montage Investments, “I am looking forward to sharing this fund with the advisors and financial intermediaries we work with. Convergence’s distinct investment process and approach have contributed to its track record, and I believe this fund has the potential to perform well in the small- to mid-cap space.”

About Convergence Investment Partners
Convergence Investment Partners uses quantitative tools to select investments, construct portfolios and manage risk for individuals, businesses, financial advisors and institutional investors. The team applies proprietary investment strategies, supported by extensive research, with a goal of generating alpha across various stages of the market cycle.


About Montage Investments
Montage Investments provides institutional-caliber investments to investors and the financial professionals who serve them. Through a family of independent asset managers, unified by deep market insight and fundamental research, Montage offers alternative investment solutions across the spectrum of asset classes and strategies that include mutual funds, closed-end funds and separate accounts. Collectively, Montage Investments managed $18 billion as of September 30, 2013.


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