Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.
  • Exclusive Online Only Content
  • Free Daily Email News Alerts
  • Asset Management Blogs

Jundt Transfers Ownership to Heir

Jundt Associates of Minneapolis, Minn. plans to transfer ownership of almost all of the privately-held investment management firm's shares to Marcus Jundt, 35, son of James Jundt, 58, the firm's founder, chairman and chief executive officer.

The change in ownership gives Marcus Jundt 95 percent of the firm's shares, currently owned by his father. The remaining five percent is held in a family trust.

The transfer of ownership of the firm, which has $500 million under management, was disclosed in a preliminary fund proxy statement filed with the SEC Aug. 3. Shareholders are being asked to approve a new investment-advisory agreement between each fund and Jundt Associates as a result of the change.

"There will be zero change in the way the funds are managed. This is strictly an estate-planning issue," James Jundt said. Further, he will remain chairman and CEO of the firm, he added.