Small-cap equity manager Pacific View Asset Management was launched this month as a division of holding company Condor Trading, with former Fisher Funds investment executives Kenneth Applegate and Scott Brown leading the new division.
Pacific View has $253 million in assets under management from the international and global portfolios Messrs. Applegate and Brown managed for Fisher Funds. The two firms reached an agreement in which Pacific View will subadvise the funds for at least a year.
Mr. Applegate, who was senior portfolio manager at Fisher Funds, will be senior portfolio manager and co-head of the small-cap team. Mr. Brown, who was senior investment analyst at Fisher Funds, will be portfolio manager and co-head of the small-cap team.
The unit will have a “flexible” management structure between the two and will not have a CEO or chief investment officer, Mr. Applegate said in a telephone interview.
“We really wanted to come to the marketplace institutional-quality and institutional-ready from day one,” Mr. Applegate said.