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Corporate America launches mutual fund
IRONDALE, Ala. (6/1/11)--Corporate America CU, a corporate credit union in Irondale, Ala., has launched a mutual fund for credit unions. Corporate America CU Short Duration Fund was developed by Corporate Financial Solutions, an investment adviser and credit union service organization of Corporate America CU. The fund was created as a credit union investment vehicle that restricts its portfolio to securities and transactions that are permissible for federal credit unions. The fund’s portfolio will be managed by Thomas Bonds, president/CEO of both Corporate Financial Solutions and Corporate America CU. U.S. Bancorp Fund Services LLC will manage fund operations. The investment objective of the fund is to provide high current income while preserving capital and maintaining liquidity by investing in obligations authorized under the Federal Credit Union Act, according to Corporate Financial Solutions. Corporate America CU Short Duration Fund is a no-load fund requiring a minimum investment of $50,000.
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