MAXFunds.com and Findafund.com Will Merge
September 11, 2000
MAXFunds.com of Ann Arbor, Mich., an online mutual fund analysis firm, has acquired the mutual fund information site, Findafund.com of Los Angeles, for an undisclosed price, according to MAXFunds.com. The sites will be combined into one that will provide comprehensive fund coverage, said Rick Baggenstoss, director of marketing at MAXFunds.com.
Findafund.com, founded by The Inter Group of New York, is being sold because of a potential conflict of interest, according to Baggenstoss. Inter Group owns McCann-Erickson of New York and a number of other ad agencies. It was a conflict of interest to own a media company that buys ads, said Baggenstoss.
MAXFunds focuses on funds that are too small or too new to have ticker symbols. MAXFunds give the small funds exposure to investors who would otherwise be unaware of them, according to MAXFunds.
Findafund tracks the risk and performance of 13,000 funds.