New York-based Drexel Hamilton Investment Partners (DHIP) has purchased the assets of an existing US mutual fund Ameristock Fund, for an undisclosed sum.
DHIP’s existing Drexel Hamilton Centre American Equity Fund (DHAMX) will acquire the assets and restructure the former US fund.
DHIP managing director and founding partner Andrew Bang said, "DHIP’s mutual fund complex will afford the shareholders continued investment in the Fund with a well-known and experienced fund manager as well as provide access to other Drexel Hamilton Funds on DHIP’s platform."
After completion of the acquisition, DHIP will start distributing the Drexel Hamilton Mutual Funds to retail customers through Schwab, Fidelity, TD Ameritrade and other retail channels to supplement its existing institutional share class offerings.
Drexel Hamilton Investment Partners serves corporations, public and private institutions, pension funds and insurance companies, as well as financial advisors and their clients in US.