MetaMarkets.Com Plans IPO Fund
September 18, 2000
MetaMarkets.Com of San Francisco filed with the SEC Sept. 8 for a new fund that will invest in IPO's and new companies involved in developing products the company believes will lead to technological, social and economic change, according to the SEC filing.
The MetaMarkets IPO & New Era Fund will be only the firm's second mutual fund and one of three funds investing largely in IPO's, said Maurice Werdegar, chief investment officer for the firm.
The fund will invest at least 65 percent of its assets in these types of companies and will invest the remainder in exchange-traded funds and other investments, according to Werdegar.
For the first year of the fund's operation, it will be allowed to invest more than 35 percent of its assets in securities representing equity indexes, according to the filing.
The fund will close to new investors when it reaches $300 million in total assets under management, he said.