NEW YORK, Sept. 29, 2020 /PRNewswire/ -- Liberty Street Advisors, Inc. and Securian Asset Management, Inc. announced today a plan to reorganize three Securian AM mutual funds into the Liberty Street family of mutual funds within Investment Managers Series Trust.
Liberty Street is a New York–based SEC–registered investment adviser that serves as the investment adviser to the Liberty Street family of funds.
"Liberty Street offers investors and financial advisors differentiated, timely, value added investment strategies sub–advised by independent managers who have demonstrated expertise in their asset class," said Tim Reick, CEO of Liberty Street Advisors.
"The three Securian AM Funds may provide diversification and income opportunities in today's low interest rate environment, while potentially mitigating the negative impact of market volatility," said Mr. Reick. The Funds will be available to both institutional and retail investors.
The portfolios involved in the transaction are Securian AM Balanced Stabilization Fund (institutional class ticker symbol VVMIX); Securian AM Equity Stabilization Fund (VMEIX); and Securian AM Real Asset Income Fund (VSDIX). Fund names and ticker symbols will remain unchanged.
Pending shareholder approval the investment manager for the Funds will be Liberty Street; Securian AM will become the sub–advisor.
"Liberty Street's extensive experience as an advisor to sub advised funds will allow our Investment team to focus on what we do best, manage the portfolio," said Craig Stapleton, CFA, FRM, Senior Vice President, CIO Investment Strategies and Risk at Securian AM.
"We are enthusiastic about joining Liberty Street's family of mutual funds," said Mr. Stapleton. "We will continue to seek to generate attractive risk–adjusted returns for our investors, while seeking to minimize downside risk."
The re–organization will not result in any material change in the portfolio management of the Funds or their investment objective or policies.
The Securian AM investment team, led by Craig Stapleton, includes Jeremy Gogos, Ph.D., CFA
Vice President and Portfolio Manager; Merlin Erickson, Vice President and Portfolio Manager, Joseph Betlej, CFA, Vice President and Portfolio Manager, and Lowell Bolken, CFA, Vice President and Portfolio Manager.
"We believe that Liberty Street and Securian AM's investment management goals are in alignment," added Victor Fontana, President of Liberty Street Advisors. "We look forward to working with Securian AM's investment managers, and to continuing to meet the investment needs of the financial advisors and shareholders who have invested in the Funds."
The transaction, which is subject to customary closing conditions and regulatory approvals, including shareholder approvals for the Funds, is expected to close at end of business on December 11, 2020.
ABOUT SECURIAN ASSET MANAGEMENT, Inc.
Securian Asset Management, Inc. based in St. Paul, MN, is an institutional asset manager specializing in public and private fixed income, commercial real estate debt and equity, pension solutions and alternative investments strategies with more than $40 billion under management as of August 31, 2020. Clients include insurance companies, mutual fund sponsors, pension plans, foundations and endowments. The asset manager was established in 1984 and traces its history to the founding of parent firm Securian Financial Group in 1880.
ABOUT LIBERTY STREET
Liberty Street is an SEC registered investment advisor managing mutual funds sub–advised by unaffiliated asset managers. The firm is located in New York City and launched its first fund in 2007. Liberty Street provides access to valuable and timely investment strategies designed to help investors and financial advisors meet the challenges of today's market environment. At present, Liberty Street manages 4 mutual funds with net assets, as of August 31, 2020, of over $1 billion.
FOR MORE INFORMATION
For more information, please contact:
Jeff Bakken, Media Relations, Securian Financial at 651–665–7558.
Milin Iyer, Media Director, Sondhelm Partners 703–752–1510.
The Funds' investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-855-824-1355 or visiting wwwsecurianamfunds.com. Read it carefully before investing.
Past performance is no guarantee of future results.
Mutual fund investing involves risk. Principal loss is possible. The Adviser may be unsuccessful in managing volatility and the Funds may experience a high level of volatility in their returns. The securities used in the strategy are subject to price volatility, and the strategy may not result in less volatile returns for the Funds relative to the market as a whole, and they could be more volatile.
Shareholders of the Funds will receive a Proxy Statement/Prospectus that describes the investment objective, strategies, expenses, and risks of an investment in the corresponding Liberty Street Funds and provides other important information about the proposal. When it is available, shareholders should read the Proxy Statement/Prospectus carefully before making any decision to invest or to approve the proposal. The Proxy Statement/Prospectus and other relevant documents will also be available for free on the SEC's website (Link).
Neither Liberty Street Advisors nor Securian Asset Management provides legal, tax or accounting advice. Investors should conduct their own analysis and consult with professional advisors prior to making investment decisions. Diversification does not eliminate the risk of experiencing investment loss.
The Securian AM Funds are distributed by Quasar Distributors, LLC. Securian Asset Management, Inc. is the investment adviser and is a subsidiary of Securian Financial Group, Inc. Securian Financial Group is not affiliated with Quasar Distributors, LLC.
The Liberty Street Funds are distributed by Foreside Fund Services, LLC. Liberty Street Funds is not affiliated with Quasar Distributors, LLC.
SOURCE Liberty Street Advisors, Inc.