MONTREAL, Jan. 30, 2014 /CNW Telbec/ - O'Leary Funds Management LP today announced gross sales of $275 million for its mutual fund business in 2013, another year over year sales record.
Gross sales in 2013 reached approximately $275 million, an increase of 129% compared to sales of $120 million in 2012. "By all accounts it was a very successful year," said Connor O'Brien, CEO of O'Leary Funds and President of Stanton Asset Management Inc., the portfolio advisor to the O'Leary family of funds. "Sales were strong across all strategies and regions, from our fixed income and equity funds, to our floating rate and balanced income solutions."
O'Leary Funds notably benefited from the introduction of its new O'Leary Floating Rate Income Fund, a product which received considerable attention from advisors following its launch in July. "We had already developed significant expertise with this asset class," said Mr. O'Brien, "and with economic conditions pointing to a rise in interest rates, it made sense to make the strategy available to mutual fund investors." After only six months of sales, the fund was among the firm's best sellers with new investor inflows in excess of $62 million at December 31, 2013.
During the year, the firm also broadened its advisor client base nationally, growing sales in every province, in part due to an expanded sales force. "Early indications are that sales will remain strong in 2014," said Stephen Crawford, Senior Vice-President, National Sales. "I would like to thank our network of investment advisors and their clients for their ongoing support as we pursue our mission to become Canada's leading destination for income investing. We are proud to be one of the few truly independent firms in the mutual fund space."
About O'Leary Funds
O'Leary Funds Management LP is a Canadian investment fund manager of mutual funds and closed-end funds striving to provide Canadian investors with reliable and strategic income solutions. Based on our value-yield investment philosophy, Canadian and global investment opportunities are identified through a disciplined investment process. Our core principles, Income, Capital Appreciation and Capital Preservation, are driven by each portfolios investment objectives. Our portfolios are diversified by sector, region and asset class. For more details about O'Leary Funds, visit www.olearyfunds.com.
SOURCE: O'Leary Funds Management LP
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