MAXfunds.com Caters to Small Funds
February 7, 2000
MAXfunds.com, an Internet-based mutual fund analysis firm in Ann Arbor, Mich., will launch its www.MAXfunds.com website to provide a home to start-ups and other funds that are too new or too small to qualify for a NASDAQ ticker symbol - generally those funds in business less than three years, or with less than $25 million under management. MAXfunds.com will track small funds from their inception.
While small funds often have great performance, they often do not have the budgets for extensive marketing or distribution, said Jonas Max Ferris, president and co-founder of MAXfunds.com. MAXfund's goal is to connect fledgling funds with younger investors with high risk tolerances, he said.
About 90 percent of the site will be free to Internet investors. Special services will be available for additional costs. Fund advisors will be charged for each item on a menu of services from online prospectuses and applications to fund profiles written by the fund's manager. Daily pricing will also be available.
The MAXfunds.com service is currently being tested and is expected to be introduced in mid-February.