WEST PALM BEACH, Fl (HEDGECO.NET) – A new Mutual Fund product has been launched by Thomas Kirchner, with the aim of utilizing event driven strategies for its trading decisions. The new fund,Pennsylvania Event Driven Fund, although a mutual fund by classification, would employ hedge fund trading strategies of event driven, merger arbitrage and capital structure arbitrage to accomplishthe funds investment objectives.

According to the founder, Mr. Kirchner, the launching of the new fund was necessitated by the realization that event driven strategies could be adopted in a mutual fund format. Kirchner commented, �I found these strategies very reliable and efficient�. He explained further that hedge funds charge performance fees, but the new mutual fund portfolio would not charge such fees.

Because such fees are not required, Kirchner noted that managers trading this portfolio would not be pressured to pile on leverage or risk. Kirchner added that the new event driven mutual fund has other advantages. Mutual funds are regulated by the Securities and Exchange Commission; such scenario means that the new product would offer full transparency to investors.

Kirchner added that the new event driven mutual fund can borrow and leverage collateralized assets, fees would be in the 1.75% range. Pennsylvania Advisers would market the new fund and also act as the transfer agent and administrator.

With this new trend, the demarcation line between mutual funds and hedge funds seem to be narrowing, there is also the issue of the pending regulatory oversight of hedge funds by the US Congress. Many hedge fund industry organizations and groups oppose additional Congressional regulatory laws for hedge funds.

While many hedge fund companies continue to search for ways to increase transparency to their investors, it should be noted that transparency of hedge funds have drastically improved since the collapse of Long Term Capital Management in 1998. Today, one can log onto internet hedge fund information portals such as Hedgeco.net and instantly gain access to the most recent data on the funds listed.

Paul Oranika
Editor-in-chief
Hedgeco.net

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