Elizabeth Bramwell, former portfolio manager of The Gabelli Growth Fund, intends to pursue institutional investors at her new firm, Bramwell Capital Management, New York.
She said she would like to get involved in the mutual fund arena and is interested in the 401(k) market.
"This opens up a whole avenue," said Ms. Bramwell. "It's an area which I have not been very much involved in because I was very much discouraged from doing so," she said. She would not elaborate.
"I haven't really gone after the pension fund management business for one reason or another," she said. "Now I can run my own show, and I think that's one area I might be looking at."
Ms. Bramwell currently manages one small pension fund account she has handled for more than four years. She would not identify the fund.
Bramwell Capital will use the same investment approach Ms. Bramwell had used with the Gabelli fund, she said. She will seek general growth and companies that will benefit from research and capital spending within the macroeconomic framework of interest rates, inflation and political climate, she said.
Bramwell Capital is now in temporary quarters while Ms. Bramwell chooses her staff and sets up her own office.
"I can't say very much at the moment. I have to say 'stay tuned.'*"
One thing is certain: the company will be based in New York City. Ms. Bramwell had opposed the closing of Gabelli's New York office when the company consolidated its operations in Rye, N.Y.
Gabelli funds has retained Tremont Advisors, Rye, to search for a replacement. A team of analysts including Mario Gabelli, chairman of Gabelli Funds Inc., will manage the Growth Fund in the meantime.