LOS ANGELES, Feb. 11, 2014 /PRNewswire/ -- B. Riley Asset Management, LLC (BRAM) www.brileyam.com, an SEC-registered investment advisor, has introduced the B. Riley Diversified Equity Fund (BRDZX) (BRDRX).
BRAM is an affiliate of Los Angeles based B. Riley & Co., LLC (B. Riley) (www.brileyco.com), a FINRA registered broker dealer.
Founded by Bryant Riley in 1997, B. Riley's research department has been recognized repeatedly for publishing top-ranked equity research to institutional clients and high net worth individuals.
"The creation of B. Riley Asset Management is a natural progression in the growth of our company and will provide unique opportunities to further leverage our existing infrastructure and resources," said Mr. Riley.
The B. Riley Diversified Equity Fund is an open-end mutual fund which will attempt to mirror the performance of the B. Riley Diversified Equity Composite. The Composite is an equal-weighted index of stocks calculated by Bloomberg Indexes. See http://www.bloomberg.com/quote/BRILEYEQ:IND.
It was created by the B. Riley research department to measure performance. Each company designated with a "Buy" rating by B. Riley & Co.'s research analysts is included in the Composite.
Chuck Hastings, a managing director at B. Riley Asset Management, will act as the Portfolio Manager of the Fund and is responsible for the day-to-day investment management.
About B. Riley Asset Management:
B. Riley Asset Management (BRAM) is a fee-based investment adviser registered with the Securities and Exchange Commission. It is headquartered in Los Angeles, California and is an affiliate B. Riley & Co. LLC, a FINRA registered broker dealer founded in 1997. BRAM will manage funds, separately managed accounts and other investment products.
This does not constitute an offer to sell or a solicitation of an offer to buy shares of the B. Riley Diversified Equity Fund ("The Fund"). An investor can obtain a copy of the Fund's prospectus online at www.brileyamfunds.com or by calling (310) 966-1446. Shares of the Funds are distributed by First Dominion Capital Corp., Richmond, VA. Member, FINRA.
SOURCE B. Riley Asset Management, LLC